ALPINE Fire Engineers has secured a refinancing package worth up to £70m with Shawbrook Bank and HSBC, positioning the company for further growth and expansion.
The facility has already financed the company’s recent acquisition of DAS Fire Limited and will provide additional funding for future acquisitions to supplement its already successful organic development strategy.
Following a management buyout in December 2022, with the support of private equity firm WestBridge, Alpine has experienced robust growth in its core sectors along with expanding its technical capabilities helping them to break into more complex and high-value markets. The financing package aligns perfectly with Alpine’s long-term vision of driving both organic and inorganic expansion, enabling the company to seize strategic opportunities and cement its leadership position in the fire engineering industry.
Steven Nanda, chief executive officer, at Alpine said:
“We would like to thank the team at Shawbrook for their continued support and also the team at HSBC, who join us on the next phase of our exciting journey.
“Having them both and our partners, WestBridge in support, will accelerate our ambitions of becoming the leading fire suppression specialist for complex environments.”
Thomas Dutton, senior investment manager at WestBridge, said:
“Alpine has driven fantastic growth since our investment in 2022 and this new debt facility brings a level of flexibility and certainty to help Alpine realise the next chapter of expansion and future growth.
“It has been a busy two years for the team with new senior additions, new IT systems being implemented, a 30% increase in headcount, a strategic bolt-on, all whilst being at the forefront of ESG initiatives in the sector. The addition of HSBC to the funding Shawbrook have provided since the original buyout, is very exciting and we are looking forward to continuing to support the management team as it pursues further development.”
Jake Taylor, director at HSBC UK, Leveraged Finance said:
“We are delighted to be joining Alpine and WestBridge on the next phase of the journey. It is an exciting time for the business, which has demonstrated fantastic growth in recent years, and the DAS acquisition is a highly complementary addition to the wider Group. We look forward to working with management and WestBridge to support the company’s future growth ambitions.”
Contd.
Deepak Parekh, senior director, Shawbrook Financial Sponsors, said:
“We are thrilled to continue to support Alpine in their ambitious growth journey. With the support of WestBridge, Steve and his management team have delivered very strong results since the buyout in December 2022 and made huge strides in scaling the business. We are delighted to be partnering with them via this refinancing package to demonstrate our on-going support”.
Advisers
- Clearwater – Debt Advisory
- Pinsent Masons – Legal counsel (Alpine)
- BDO – Financial due diligence
- Eversheds Sutherland– Legal counsel (Shawbrook Bank & HSBC)
For more information please visit: https://www.alpinefire.co.uk/
