London – LAWFUEL – DLA Piper UK LLP has advised HSBC Bank plc on its provision of senior debt and invoice discounting facilities, which were utilised in part to fund the acquisition of Alexander Mann Solutions (“AMS”) by Graphite Capital, the leading UK mid market private equity specialist from Advent International.
AMS is the largest independent provider of recruitment process outsourcing solutions to blue-chip companies worldwide, employing 900 staff serving 28 clients in more than 50 countries, generating a turnover of £340 million in the year to September 2007.
Leveraged finance partner, David Miles, commented: “We were delighted to act for HSBC Bank plc in relation to the transaction and to be involved in the first investment by the new Graphite Capital Partners VII Fund. The transaction was notable as part of the invoice discounting line was to be utilised to fund the acquisition. Being able to bring together the constituent parts of the transaction in a very tight time frame was very rewarding.”
The DLA Piper team was led by David Miles, assisted by associate, Jolyon Ellwood-Russell and solicitor, Ewen Scott. Mark Chidley, a Leeds finance partner led on the invoice discounting element of the funding provided by the bank.
HSBC Bank plc is an existing client of DLA Piper.