Client-focussed from the outset, we provide a commercial edge to the full range of banking, real estate and project finance transactions that we handle. Our banking, real estate and project finance work is a key part of our heritage, and our future ambitions.
We have a level of heavyweight expertise and experience that is very rare for a regional firm. Whether acting for financiers or borrowers, we are solutions-focussed, often overcoming complex legal issues through innovative structures and bespoke arrangements.
We do this whilst at all times maintaining a collaborative approach with our clients, their counterparties and other professional advisers. We use our expert project management skills to drive any transaction through to completion in a pragmatic and commercial manner.
We have a wealth of in-depth legal and commercial knowledge, and most of our senior lawyers have many years’ experience working for market-leading law firms in London and Birmingham.
We all share the same common goals – to deliver legal advice of the highest quality that is clear and easy-to-understand for our clients and meets their specific needs at competitive rates (including fixed fees wherever possible to deliver value for money and budget certainty).
We advise on and project manage complex transactions in a wide range of disciplines, including:
- Corporate and commercial finance
- Project finance
- Real estate and development finance (commercial and residential)
- Invoice, supplier and asset finance
- Restructuring, insolvency & enforcement
- Finance disputes
- Social housing finance
Building your confidence in us
We recognise the leap of faith involved in buying “services”. This cannot compare to buying “goods”, the quality of which can be assessed before a financial commitment is made. We therefore believe that buyers of legal services appreciate hearing what our clients say about the services they have received.
Corporate and commercial
We regularly act for lenders and borrowers on sizeable and complex corporate financings, many of which have multi-jurisdictional aspects.
We are on the legal panels of most of the UK clearing banks and act for a broad spectrum of financial institutions from banks, alternative lenders and private clearing equity houses through to individuals. Our advice encompasses senior and mezzanine debt and other forms of structured finance, second charge and bridging finance, a full range of security trust and security arrangements (including using security in unusual and inventive ways), together with intercreditor and other priority arrangements.
Our borrower clients range from start-up businesses and SMEs through to large national and multinational organisations. We have extensive experience in business acquisitions and mergers (including management buy-ins and buy-outs), leveraged corporate finance and structured finance.
We are full members of the Loan Market Association and regularly use its template finance documents where it is appropriate for our larger funding transactions.
We have also advised on public and private Eurobond issues, including prospectus “passporting” for listings on European investment exchanges.
- Acting for an alternative lender on a £16,300,000 warehouse financing of an SME lender.
- Acting for an alternative lender on a £14,000,000 warehouse financing of an invoice financier.
- Acting for a syndicate of Canadian banks on its CAN$27,000,000 financing of a multinational software company.
- Acting for a mainstream Canadian bank on its CAN$8,500,000 financing of a multinational clothing manufacturer.
- Acting for a mainstream bank on a £7,000,000 financing of a furniture business, including a corporate group restructuring and a refinancing and debt forgiveness process.
- Acting for an alternative lender on a £6,500,000 financing of a property investment company.
- Acting for an alternative lender on a £5,000,000 financing of provider of leased executive cars.
- Acting for the specialist transactions team of a mainstream bank on a £3,000,000 financing of the acquisition of a group of telecommunications companies.
- Advising originators on several Eurobond issues, including preparing and obtaining UK Listing Authority prospectus approval, “passporting” into various EU investment exchanges and obtaining listings.
- Advising a UK finance and reconstruction group on a £40,000,000 sterling swingline facility.
Property and development
We have a proven track record of advising both lenders and borrowers in finance transactions throughout the property industry.
Our in-depth knowledge allows us to advise on all aspects of the financing of property development and property investment, drawing where required on the expertise of our construction, development, planning and commercial property teams.
- Acting for the finance arm of a luxury car manufacturer in relation to the financing of purchases and new developments of car dealerships, totalling up to £100,000,000 per calendar year.
- Acting for a mainstream bank on a £15,000,000 development financing in relation to the construction of a 7,000-vehicle capacity national distribution hub on a former colliery site.
- Acting for a mainstream bank on a £3,600,000 facility in relation to the acquisition of a mixed office and retail complex.
- Acting for a leading independent schools foundation on a £28,000,000 development finance facility from a mainstream bank.
- Acting for a group of luxury hotels on an £18,000,000 development finance facility from a mainstream bank to fund the expansion of a existing hotel and the construction of a new hotel.
- Acting for a property developer on an £8,000,000 senior and mezzanine financing for the development on a brownfield site of eco-efficient student accommodation.
- Acting for a private developer on a £7,500,000 land purchase and development finance facility with a specialist property lender to fund a development of 20 homes.
We regularly work on new financings alongside our social housing team, which has an outstanding reputation as a leading supplier of legal solutions to the social housing sector.
With our extensive knowledge of the social housing sector, we advise both lenders and registered providers of all sizes on a full spectrum of social housing finance, including leveraged and development finance, public bond issuances and private placements.
- Acting for a mainstream bank on a £40,000,000 revolving credit facility for a large registered provider.
- Acting for a registered provider on a £10,000,000 revolving credit facility with a mainstream bank.
- Acting for a registered provider on a £9,000,000 term and revolving development finance facility with a syndicate of social purpose banks.
Manufacturing and engineering
We regularly work alongside colleagues in our manufacturing and engineering sector team on new financings within the sector, advising lenders and borrowers alike.
- Acting for the owner-manager of a packaging company on a £32,000,000 staggered management buy-out, including £6,500,000 of new financing provided by a mainstream bank.
- Acting for an alternative lender on a £3,000,000 financing of a management buy-out and buy-in in respect of a fasteners manufacturer.
- Acting for a pottery manufacturer on a £2,400,000 refinance with a mainstream bank.
- Acting for a mainstream bank on a £1,200,000 financing of a management buy-out of a plastics manufacturer.
- Acting for a regional growth funder on a £500,000 mezzanine financing of an automotive manufacturer alongside a £2,400,000 senior invoice finance facility.
Health and social care
Working closely with colleagues in our health & social care sector team, we regularly act on new financings within the sector, advising both lenders and borrowers alike.
- Acting for a care group on a £11,000,000 refinance with a mainstream bank together with associated intercreditor arrangements with joint venture partner.
- Acting for a care group on a £4,900,000 refinance with a mainstream bank.
- Acting for an alternative lender on a £3,200,000 refinancing of three care homes.
Our highly experienced agricultural team has an in-depth understanding spanning 170 years in the agriculture and food sector. We work closely with the team in advising both lenders and borrowers within the sector on a variety of financing and specialist security issues.
- Acting for a mainstream bank in relation to the financing of a £1,800,000 purchase of agricultural land, including advising on intercreditor arrangements with a secured overage holder.
- Acting for a member of a farmer’s grain co-operative in respect of the establishment of a security trust and security arrangement in respect of membership entitlements.
- Acting for two farmer landlords in negotiating a highly complex direct agreement with the mainstream bank funder to their tenant, a solar farm operator.
Invoice, supplier and asset finance
We have a breadth and depth of knowledge around all aspects of asset-based lending, including invoice finance, factoring, receivables securitisation, supplier finance, hire purchase, sale and leaseback, finance leases and operating leases. We bring this knowledge to bear for lender and borrower clients alike to obtain the best solutions to their asset based lending needs.
- Acting for an alternative lender on a £14,000,000 warehouse financing of an invoice financier.
- Acting for a plastics manufacturer on an £11,000,000 refinance with a mainstream bank, comprising a £7,000,000 invoice finance facility, a £2,000,000 stock, plant and machinery facility and a £2,000,000 working capital term loan.
- Acting for a small business lender on the template documents for a card receivables sale and purchase arrangement, which will grow a debt book of up to £4,000,000.
- Acting for a software company on a £1,250,000 invoice finance facility with a mainstream invoice financier.
Restructuring, insolvency and enforcement
We provide clear, practical and commercially-focussed advice on restructurings and also on insolvency matters. We act for directors, companies, banks and other financial institutions, private equity investors, insolvency practitioners and other stakeholders; we are able to offer deep industry knowledge and experience in corporate restructurings and refinancings, distressed debt transfers and insolvency matters, including the options available to secured creditors around enforcement of security.
- Acting for a housing developer on a property acquisition from a seller at risk of insolvency, which involved our client acting as lender and funding the £4,500,000 acquisition by a newco of the seller’s £13,000,000 debt to a mainstream bank at a deep discount, together with all related security. Please read our case study for further details.
- Acting for a German manufacturer in respect of its claim in the voluntary liquidation of an English customer.
- Acting for the business support division of a mainstream bank in respect of a complicated intercreditor arrangement involving itself, its invoice finance sister company, the pension trustee of the borrower’s pension scheme, and an incoming bridging lender.
- Acting for an alternative financier in respect of the appointment of a receiver to a piece of real property.
Leisure and hotels
We regularly work alongside colleagues in our commercial real estate and construction teams on financings in the leisure sector, in particular in respect of the construction, redevelopment and refurbishment of hotels and holiday resorts.
- Acting for a group of luxury hotels on an £18,000,000 development finance facility from a mainstream bank to fund the expansion of an existing hotel and the construction of a new hotel.
- Acting for an alternative lender on an £8,000,000 financing of the acquisition and refurbishment of a significant hotel, including its re-branding under new franchising arrangements.
- Acting for an alternative lender on a £4,000,000 financing of the fit-out of a holiday resort.
We have extensive knowledge of the UK’s highly complex consumer credit regime and regularly advise lenders which are not FCA-authorised for consumer credit activities on the “safe harbours” that may be available to them within the regime in respect of loans to individuals, partnerships and unincorporated bodies.