Leveraged Buyout Financing

PRICOA PROVIDES FINANCING TO FACILITATE A PRIMARY LBO

Roof-Maker Limited, headquartered in Leicester, is a designer, manufacturer and supplier of contemporary high quality residential rooflights and bi-folding doors. Products are manufactured in-house under the Roof-Maker and Reflex Glass brands and predominantly sold direct to consumers via a well-established e-commerce capability.

In November 2016, Next Wave Partners agreed to acquire Roof-Maker from its founders and principal shareholders. As part of the process, Next Wave sought approximately £20 million of debt to finance the acquisition. The sponsor required an adaptable, relationship-orientated financing partner willing to understand a complex acquisition structure and support an ambitious expansion and institutionalization plan.

Pricoa Capital Group was chosen as the sole financing partner for Roof-Maker because of its client driven approach, flexible capital appetite and ability to provide the desired quantum and terms, which along with prior experience of working with the sponsor, offered high certainty of execution.

Pricoa ultimately structured and closed a one-stop, multi-currency financing package comprising a revolving credit facility, senior notes, subordinated notes and an equity co-investment. Pricoa’s responsive client-centric approach was key to the transaction closing successfully with a structure well suited to support Roof-Maker’s ongoing growth ambitions and product innovation.