Warwick International Bought by Management

Close Brothers Private Equity (CBPE) says it has backed the management of Warwick International (Mostyn, U.K.) to acquire Warwick from its parent Sequa Corporation (New York) in a deal worth £129 million ($235.3 million). The transaction was funded by a banking club led by the Royal Bank of Scotland. CBPE invested £55 million in the deal alongside £85 million of senior debt, mezzanine and working capital facilities, provided by the banking club, which included Barclays, HSBC and Lloyds TSB Corporate Markets. Warwick's CEO Bob Ellis and...

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