Mindera

Our role

Investec Growth & Leveraged Finance provided bilateral senior debt facilities to refinance CBPE’s all equity financed acquisition of Mindera.

The Investec team were impressed by Mindera’s high-quality management team, the strong market tailwinds in the international software consultancy market as well as Mindera’s deeply embedded relationships with its blue chip client base.

The deal underpins the positive momentum the G&LF team have with CBPE, representing the second deal with the sponsor in recent months.

The Deal

Mindera was founded in 2014 with eight offices in five countries across Europe ,the US and Asia with over 600 employees. The business builds high performance, resilient and scalable software systems which accelerate the digital capabilities of businesses across a range of sectors. Mindera offers a full range of end-to-end digital transformation services across product design & build, technology development & consultancy and performance testing & scalability.

CBPE announced the acquisition of Mindera in March 2021, led by Ian Moore and Jolyon Latimer, and sought financing in order to enable Mindera’s next phase of growth. Investec were able to provide an attractive financing solution in a competitive process to support the business and strengthen our ongoing relationship with CBPE.

About CBPE

Established in 1984, CBPE have been an active private equity investor for over 30 years. Previously operating as Close Brothers Private Equity, under former parent Close Brothers Group, they have been independent since completing their own MBO in 2008.

The most recent fund, CBPE Capital X, closed on capital commitments of £561m in November 2020. CBPE invests in UK mid-market businesses with an Enterprise Value between £25 and £150m, focusing on primary buy-outs and development capital investments in specific sub-sectors.