Superglass

The deal

• Sale of a non-core subsidiary by Encon Group, majority owned by 3i
• Equity led by NBGI Private Equity
• Senior debt provided by Clydesdale Bank

The company

• One of the leading UK glass mineral wool insulation producers
• Well invested factory in Stirling, Central Scotland

The strategy

• To grow the business organically by increasing the plants production output capacity
• To take advantage of the increasing demand for insulating material in the UK, being driven by the changing regulatory environment and tightening energy efficiency requirements
• To use strong cash flow generation to repay acquisition debt and return money through refinancing

Investec’s role

Investec Growth & Acquisition Finance provided NBGI Private Equity witha mezzanine loan as part of the acquisition funding package. Post completionwe worked with NBGI to structure a preferred equity investment, whichgave them an attractive alternative to syndication and allowed them to enhance their equity returns.

www.superglass.co.uk

Equity   |   Mezzanine finance   |   Asset based lending   |   Integrated finance