We have completed a co-investment deal in a senior secured loan facility to leading legal services business, BW Legal. The company is a leading Leeds-based legal firm specialising in the outsourced collection of high value, low volume overdue consumer receivables, which purchases such debts from third parties.
Existing debt facilities will be increased to enable BW Legal to acquire further debt books at attractive discounts to face value. Covid, in part, is responsible for an increase in the opportunities available.
The original loan was arranged by London-based Shard Credit Partners, a direct lending firm and provider of alternative finance to UK SMEs, which has a longstanding relationship with the borrower.