James Caan uses invoice finance to fund DRC acquisition

Copying and distributing are prohibited without permission of the publisher

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.

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'...

You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.

Already have an account?

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Free trial

Taking a free trial will give you access to the current issue for two weeks (excluding some surveys and articles). Start your free trial today.

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.

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%