H.I.G. WhiteHorse Finances Churchill Group in the UK
LONDON – October 2, 2023 – H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G. Capital (“H.I.G.”), is pleased to announce that it has arranged a financing package for Churchill Group (“Churchill” or the “Company”).
Churchill’s is a leading provider of cleaning, security, front of house, water hygiene, social housing facilities management and groundworks, and catering services to some of the UK’s leading companies.
The senior debt financing package will be used to refinance the Churchill’s existing debt and facilitate the purchase of a controlling interest in the Company, by an Employee Ownership Trust (“EOT”).
James Bradley, Group CEO, said: “We are delighted to have worked with H.I.G Whitehorse in becoming an Employee-Owned Trust. Our decision to adopt this model is very fitting with our existing culture and values, and I’m confident that it will enhance the next phase of our growth and ambitions. We are excited to share the Company’s future success with our employees.”
Pascal Meysson, Head of H.I.G. WhiteHorse Europe, said: “This financing package will allow H.I.G. Whitehorse to support Churchill during its next phase of growth as an Employee-Owned Trust. This opportunity was particularly attractive to us due to the Churchill’s strong revenue growth over the last 30 years, stable underlying demand drivers, and its loyal customer base; all of which are underpinned by the Company’s best-in-class service and customer satisfaction.”
About H.I.G. Capital
H.I.G. is a leading global alternative investment firm with $59 billion of capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $52 billion. For more information, please refer to the H.I.G. website at www.hig.com.