James Caan uses invoice finance to fund DRC acquisition

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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'...

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