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Muzinich & Co invests in Phaidon International

Phaidon International has raised £18m from a Muzinich & Co and HSBC Bank Plc investment.

 

Phaidon says the investment will enable it to continue its global expansion, diversify into new markets and offices as well as enable the management team to realise some of the value of the business it has built up over the last ten years.

 

As part of the transaction, Stuart Batchelor joins the board as chief strategy officer.

 

Kirsten Bode and Philip O’Leary led the deal on behalf of Muzinich & Co., a global institutional asset manager with c. $25bn of funds under management (as at 31st March 2016). Muzinich is headquartered in New York with offices in seven countries, including offices in London and Manchester, as well as across Europe.

 

This transaction represents Muzinich’s second investment from its UK Private Debt Fund, which held its first close in December 2015 and it says it is dedicated to supporting high performing UK mid-market companies with an EBITDA of between £3m and £20m.

 

Adam Buck, Phaidon International founder, stated, “The management team are delighted to create this investment partnership with Muzinich & Co. Their decision to invest truly endorses our business performance to date and our future strategic intentions. We are particularly pleased to be able to create new shareholders in our management team to reward and incentivise them over the coming years.”

 

Bode commented, “Phaidon has demonstrated impressive historical organic growth and we are very pleased that we are able to support Adam and the management team in this next exciting phase of Phaidon’s development.”

 

Advisors to the deal:

Catalyst Corporate Finance- Mark Farlow and Guy Taylor

Osborne Clarke LLP, legal advisors to Phaidon- Matthew Bodfield and Dominic Ross

Grant Thornton UK LLP - Due diligence: Mo Merali and Carl Parker

Deloitte tax advisors: Patrick Waldron and Jason Brunell

Travers Smith legal advisors to Muzinich & Co: Matthew Ayre and Matthew Smith

 

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