LONDON, May 02, 2017 (GLOBE NEWSWIRE) -- Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners, in partnership with LDC Private Equity, announced on April 20 one of the first Unitranche plus Asset-Based Lending (ABL) solutions in the European market.
LDC, the leading UK mid-market private equity investor, has backed the secondary buyout of Addo Food Group ("Addo" or "the business"), the UK's leading chilled savoury pastry producer in a transaction that marks a successful exit for Vision Capital.
“We are pleased to have Guggenheim as our financing partner for our investment into Addo Food Group,” remarked Victoria Mercer, Investment Director at LDC. “Guggenheim’s flexible approach and credit decisions facilitated a pragmatic and efficient financing process. We look forward to working alongside the management team to support the next phase of growth for the company.”
The business has been supported with a new Unitranche facility provided by Guggenheim with existing ABL facilities rolled forward by PNC.
"We're pleased to have worked on one of the first Asset-Based Lending plus Unitranche transactions in the European market," said Tara Moore, Managing Director, Guggenheim Investments. “Our creative structuring and flexible capital base will continue to allow us to provide innovative solutions to LDC and Addo as the business continues to grow."
Headquartered in Nottingham, Addo produces more than 287 million packs of chilled savoury pastry products every year. The business manufactures a range of own-brand and branded products, including sausage rolls, hot pies, slices, pork pies, scotch egg products, and quiches, which it supplies to the UK's leading names in food retail including all the major supermarkets.
About Guggenheim Investments
Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners with $209 billion1 in total assets across fixed income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, consultants, wealth managers, and high-net-worth investors. Our 275+ investment professionals perform rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. This approach to investment management has enabled us to deliver innovative strategies providing diversification opportunities and attractive long-term results.
1Guggenheim Investments total asset figure is as of 12.31.2016. The assets include leverage of $12.3bn for assets under management and $0.4bn for assets for which we provide administrative services. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited and Guggenheim Partners India Management.