GLI Finance Limited BMS Finance launches ?30m Irish SME debt fund
2016年4月5日 - 3:00PM
RNSニュース (英語)
TIDMGLIF
GLI Finance Limited
05 April 2016
BMS Finance launches EUR30m Irish SME debt fund
-- Loan sizes will range from EUR500k up to maximum EUR5m
-- New fund will target all sectors of the market
-- BMS to open Dublin office to support new fund
-- Fund launch follows successful ongoing partnership with British Business Bank
BMS Finance, a UK-based SME finance specialist and a subsidiary
of GLI Finance (GLIF) is pleased to announce the launch of a
dedicated EUR30 million fund to provide growth capital to SMEs in
the Irish market.
The fund, BMS Finance Ireland, will provide debt finance to
high-growth Irish SMEs for working capital, contract wins, capital
expenditure, acquisitions and MBOs. BMS Finance Ireland is backed
by investors including GLIF who have a 40.7% interest and the
Ireland Strategic Investment Fund. The Ireland Strategic Investment
Fund (EUR7.8 billion) has a statutory mandate to invest on a
commercial basis in a manner designed to support economic activity
in Ireland. It is controlled and managed by the National Treasury
Management Agency (NTMA).
BMS Finance Ireland will provide finance on a senior secured
basis, without the need for personal guarantees or personal
security. Loan sizes ranging from EUR0.5 million to EUR5.0 million
will be considered with the focus on loans from EUR1.0 million to
EUR3.0 million.
BMS focuses on supporting entrepreneur and owner managed
businesses but will also look at venture capital or private equity
backed businesses. The fund will be sector agnostic but will not be
seeking property or property development investments.
BMS has been backing Irish SMEs since inception in 2005 but is
delighted to announce the launch of its first dedicated fund to
support the financing needs of Irish companies. BMS Finance Ireland
will complement BMS's existing UK fund which is backed by the
British Business Bank and provides similar finance to UK based
SMEs. BMS intends to open an office in Dublin to support the new
fund and has identified a number of key hires which will be
announced in the near future.
BMS Finance Ireland will be headed up by Shane Lanigan, who has
over 25 years credit investment experience and was part of the
management buyout (MBO) of BMS in 2012. The management team's MBO
vehicle will be investing directly into the fund alongside GLI
Finance Limited and GLI Alternative Finance plc.
Shane Lanigan, Director of BMS Finance, commented:
"Following on from the expansion in December 2015 of our UK
based fund, expansion into the Irish market was the next logical
step given our historic experience of investing directly into Irish
SMEs. This funding will allow BMS to significantly expand our
lending capacity to high growth Irish SMEs. "
Contacts
GLI Finance Limited
Andy Whelan
+44 (0)1534 708900
BMS Finance
Shane Lanigan
+ 44 (0) 207 092 6711
Panmure Gordon (Nominated Adviser and Corporate Broker)
Dominic Morley
+44 (0)20 7886 2954
Peter Steel
+44 (0)113 357 1152
Charles Leigh-Pemberton
+44 (0)20 7886 2906
Instinctif Partners (PR Advisor)
Tim Linacre/Nick Woods
+44 (0)207 457 2020
About British Business Bank
British Business Bank Investments Limited is the commercial arm
of the British Business Bank. It aims to earn a commercial return
by investing through providers of finance to smaller businesses and
small mid-caps, pursuing investments on a fully commercial basis
without receiving any advantage from the government.
British Business Bank Investments Limited is a wholly owned
subsidiary of British Business Bank plc, the UK government's
economic development bank. Neither entity is authorised or
regulated by the Prudential Regulation Authority (PRA) or the
Financial Conduct Authority (FCA).
British Business Bank plc and its subsidiary entities are not
banking institutions and do not operate as such. A complete legal
structure chart for British Business Bank plc and its subsidiaries
can be found on the British Business Bank plc website.
The Business Finance Guide, jointly published by the British
Business Bank and the ICAEW, is a unique guide that sets out the
full range of options available for smaller businesses looking to
raise finance and offers advice to help companies plan for
growth.
This information is provided by RNS
The company news service from the London Stock Exchange
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