Tosca Debt Capital reaches £300m investment milestone with a foray of regional deals

Tosca Debt Capital (“TDC”) has marked a busy period of dealmaking activity by completing five deals and deploying more than £70m of institutional capital over the last quarter.

Included within TDC’s latest transactions is the recent LDC acquisition of Plimsoll Productions – in a deal valuing the company at c.£80m – to support the independent TV production company’s global growth ambitions.

Plimsoll Productions’ BAFTA, EMMY and Academy Award-winning team are behind more than 50 series, 14 live shows and seven films, including Hostile Planet with Bear Grylls (National Geographic), Yellowstone Live (National Geographic) and Life at the Extreme (ITV).

TDC’s Manchester-based team of 10 seasoned dealmakers also invested into Seaham-based Great Annual Savings (GAS), a market-leading provider of energy and utility procurement to more than 6,000 UK SMEs in the energy intermediary sector.

The deal will further boost GAS’ growth trajectory in the next 12 months, directing it towards its objective of being the leading UK provider of cost-saving solutions to businesses.

TDC has transacted more than 25 deals to-date, bringing its total combined deployment to in excess of £300m.

Having successfully raised £330m across Funds I and II, TDC’s successful strategy and ongoing commitment to supporting regional SMEs and quality management teams, as well as bringing complementary debt funding solutions to regional markets, has enabled it to continue diverting investment away from capital-centric financial centres across Europe.

As the UK’s only regionally-based and SME-focused debt fund, TDC continues to fill a gap in regional borrowing. To add value to its investments, its experienced team works together with borrowers to deliver the counsel and disciplines needed to support expansion strategies and maximise growth for shareholders.

TDC has completed seven successful exits in total, with recent exits of Lancashire-headquartered infection prevention specialist, Vernacare, and UK holiday park group, Verdant Leisure. Both businesses experienced significant acquisitive and organic growth during its c.3-year relationship and investment tenure.

Graham Hodgson, CEO of Verdant Leisure, comments: “TDC’s support back in 2016 was fundamental to our deal with Palatine and we have enjoyed considerable success since, with a number of acquisitions and growth in profitability. It has been an absolute pleasure to work with the TDC team on this journey.”

TDC was recently named regional Funder of the Year at the North West Rainmaker Awards 2019 – retaining its title for the third consecutive year – and is currently nominated for Alternative Finance Provider of the Year at the North West Dealmakers, which the business won in 2018.

Gary Davison, partner at TDC, comments: “We’ve experienced a strong period of dealmaking activity in recent months – despite the ongoing economic uncertainty facing the UK – in terms of new investments, successful portfolio exits and award nominations, as well as further additions to our Manchester-based team.

“Our diverse portfolio of regional UK SMEs mirror the same ambition and entrepreneurial mind-set that we have within our own business at TDC, and our commitment to disrupting a traditional debt investment market is proving ever-successful and relevant. In doing so, we’ve developed a reputation for exceptional delivery in supporting talented management teams across the North West and its surrounding regions to execute their growth plans and realise their ambitions.

“Whilst currently fundraising for Fund III, our focus for the remainder of 2019 and the year ahead is to convert a strong pipeline of opportunities and continue strengthening our team with new hires at multiple levels.”