One-Stop Financing

Pricoa provides financing to support management teams

118 Group was set up in 2008 by entrepreneurs Paul Spinks and Patrick Bradshaw. 118 Group is the owner of the UK’s only business database of its kind, supplying information under license to credit reference agencies, mapping companies and every major search engine. It also operates a leading B2B marketing data solutions division, trading as Market Location.

In March 2017, Pricoa Capital Group completed a one-stop financing to enable the recapitalisation of 118 Group. The transaction provided shareholder liquidity to support an ownership transition which puts greater ownership with the extended leadership group who will drive the business forward. Pricoa was attracted by 118 Group’s unique market position and scalable business model.

Pricoa was chosen as the financing partner due to its relationship approach and ability to structure a bespoke transaction speaking for the full capital requirement to achieve the founders’ objectives. The patient nature of Pricoa’s capital will support 118 Group’s long-term growth plans.

The transaction was comprised of Senior Debt, a Senior Accordion, Subordinated Notes and Preferred Equity. Pricoa was the sole capital provider.

Advisors to the transaction included Livingstone Partners LLP, Squire Patton Boggs LLP and Morgan, Lewis & Bockius LLP.