Deal Announcement

DC Advisory advised fast growing B2B exhibition business CloserStill on its new leveraged debt package

08 Mar 2015

CloserStill Media (CloserStill) is a fast growing and highly profitable B2B exhibitions business

It operates a young and vibrant portfolio of shows in Healthcare and Technology, two highly attractive and resilient sectors with long-term growth opportunities and long life-cycle events

On the back of successfully advising CloserStill and its previous shareholders on the sale of the Company to Inflexion Private Equity Partners LLP (“Inflexion”), DC Advisory (“DC”) was mandated to raise LBO debt to refinance some of Inflexion’s original equity bridge financing

Recognising the strong credit characteristics of CloserStill including strong earnings visibility and stellar cash conversion, DC ran a very competitive process and approached a select group of senior bank and institutional lender

DC ultimately negotiated a stretched senior LBO financing with highly attractive terms and a set of conditions tailored to meet Management’s desire for operational flexibility and covenant headroom

DC also secured a significant committed acquisition facility to be deployed towards financing CloserStill’s attractive growth strategy and towards growing the capital structure in line with the business

Funding completed on 30 July 2015 and is fully tailored to meet the combined objectives of CloserStill’s Management team and its new investment partner, Inflexion

Deal Team

Ciara O'Neill

Managing Director
United Arab Emirates

Richard Madden

United Kingdom

Andrew Strudwick

Managing Director
United Kingdom

Andy Center, CEO of CloserStill, commented:
“Our genuine appreciation and thanks for DC’s herculean efforts on our behalf and for achieving such a cracking result.”

Christian Hamilton, Partner at Inflexion, commented:
“DC produced an amazing result for CloserStill and successfully secured highly attractive financing terms that give the company all the flexibility it will need to grow in the near future. So huge congratulations for all your work.”