Investee Company – Transaction Technology Ltd.
Investee Company Country – UK
Investee Company Business Type – Accountancy software
Type of Financing – Institutional Buy-Out
Equity Providers – Lloyds Development Capital.
Equity Leader (Individual) – Patrick Sellers
Debt Providers – Royal Bank of Scotland
Debt Type – Senior and mezzanine
Debt Leader (Individual) – Jerry Wilson
Equity Amount – £13 million
Total Deal Value – £25.5 million
Other Advisors – SP Merger Group, Olswang, Price Waterhouse Coopers.
Comments – The financing for this transaction was complex in its breakdown. The amount of senior debt and mezzanine finance provided by Royal Bank of Scotland was £12.5 million. The management of Transaction Technology, and Lloyds Development Capital invested £5 million and £8 million respectively. Patrick Sellers of Lloyds Development Capital will take a seat on the board of Transaction Technology as a result of the financing.