Rawlison Butler acted for Quattro Group Limited and its associated group companies, together one of the largest operated plant/municipal hire groups in the UK, on a re-financing of its banking facilities by KBC Business Capital (a division of KBC Bank NV) and ICON Quattro LLC (a division of ICON Capital Corp.).
Following the re-financing, Quattro is now able to move forward with confidence building on a recent acquisition which is continuing to fuel significant growth.
The re-financing involved negotiating settlements with all existing creditors, including approximately 24 hire purchase equipment creditors (with a combined outstanding liability of approximately £13.5 million).
The Rawlison Butler team was led by Tim Sadka (Head of Corporate ), assisted by James Arneill (Commercial), Colin Venn (Commercial Property) and Andrew Hawkins (Corporate). A team from Grant Thornton, led by Rupert Rawcliffe, provided specialist corporate finance and taxation advice.
Commenting on the transaction, Tim Sadka said “we are very pleased to have assisted Quattro on its successful re-financing. The process involved complex negotiations with a number of existing creditors, as well as the financial institutions involved. Given the prevailing economic climate leading up to completion, we are delighted that a positive outcome was achieved. We wish Quattro every success for the future”.
David Callé, Finance Director of Quattro, commented: “Without the excellent, professional support of Rawlison Butler we would not have completed the re-financing. Rawlison Butler’s approach was commercially oriented and their advice clearly delivered. As a result our confidence in them is very high”.
For more information on this announcement or for other information on the services offered by the Corporate Finance or Commerce and Technology Teams, please contact Tim Sadka on 08450 990045 or email Tim.
