Deal Announcement


DC ADVISORY ADVISED WYEVALE GARDEN CENTRE GROUP ON A REFINANCING

25 Sep 2017

Founded in 1932, Wyevale Garden Centre Group (WGC) is the UK’s largest garden centre business, with 149 centres across the UK

WGC has over 6,000 employees and operates through 3 divisions; core retail of garden, horticulture, home and leisure products; F&B through 144 in-store restaurants and cafes; and concession income from leasing space to third party retailers

Terra Firma acquired the business in 2012

DC Advisory (DC) was retained to advise WGC on the refinancing of its debt facilities, by way of raising new debt facilities and/or amending the existing facilities

DC ran a dual track process, which included negotiating with the existing lenders and approaching a variety of potential capital providers (mix of banks and debt funds), to ensure that all potential structures and options were assessed

DC ultimately negotiated a refinancing with a group of the existing lenders, which provided significantly greater operational flexibility for the Company

Deal Team

Ciara O'Neill

Managing Director
United Kingdom

Andrew Géczy, Chief Executive Officer of Terra Firma, commented:
“We are pleased to have successfully completed the refinancing for Wyevale with the help of DC Advisory who have been outstanding in supporting us throughout this process. Wyevale is a business with a leading market share in a sector with a great deal of potential. The new capital structure will enable the business to grow further, ultimately delivering greater returns for our investors.”

Anthony Jones, Chief Financial Officer of WGC, commented:
“We are delighted to have secured new long term financing arrangements that both stabilise our capital structure and provides us with the required funding to deliver on the new strategy we launched in late 2016. DC Advisory provided us with excellent support throughout the process and were instrumental in securing this new structure.”