Tue 11/10/2020 07:46 AM
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Relevant Documents:
Press Release Graphite Capital
Press Release LDC

Private equity firm Graphite Capital has acquired a majority stake in U.K. unified communications, cloud contact center and cyber security provider Babble Cloud Ltd. for £90 million, according to a press release. The transaction was backed by a term loan provided by Apera, sources told Reorg. Continue reading for the EMEA Middle Market team's coverage of Babble Cloud, and request a trial to access reporting and analysis on hundreds of other credits.

As part of the transaction, the company’s existing debt was repaid, sources said. Apera provided an additional significant committed acquisition facility to support the company’s future acquisition plan, sources said. The debt part of the transaction represented less than 40% of the capital structure.

Near term, the business will seek to add a super senior RCF. AIB provides Babble’s day-to-day banking services, sources said. AIB declined to comment.

In 2017, LDC acquired Babble. The private equity firm has retained a minority stake. During its partnership, LDC provided nearly £9 million to support six acquisitions.

Spectrum Corporate Finance acted as debt advisor. Alantra acted as corporate finance advisor to Graphite Capital and Travers Smith advised the private equity on the legal aspects. Financial due diligence was conducted by BDO and commercial due diligence was carried out by CIL, according to the statement.

Based in London, Babble provides unified technology solutions for more than 2,000 small and medium-sized businesses.
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