Free Trial

Trade Finance Magazine Copying and distributing are prohibited without permission of the publisher

James Caan uses invoice finance to fund DRC acquisition

08 February 2010

Venture Structured Finance has provided a receivables finance package, combined with a cash flow term loan, to fund James Caan’s acquisition of medical recruitment specialist DRC Group through a BIMBO deal.

Read more: [Venture Structured Finance] [receivables BIMBO deal] [cash flow management buy-out] [UK DRC Group] [Asset based lending]

UK asset based lender, Venture Structured Finance, has provided medical recruitment specialist DRC Group with an £11.5 million ($17.9 million) invoice finance funding package to assist its acquisition by James Caan’s private equity firm, Hamilton Bradshaw, via a BIMBO deal.

A 'buy-in management buy-out' or BIMBO deal allows a company to change its management. A group of internal managers accumulate enough share capital to ‘buy out' the company from within as an outside team simultaneously 'buy in'...


Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.
8%
No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.
23%
No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.
23%
Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.
46%

Quote

From a Brazilian perspective a lot of work still needs to be done in getting foreign lenders more comfortable to finance the second-tier players again.

Ian Henderson, Texel Capital - Brazil: Agri-sector bounces back - Trade Finance July/August 2010