£7 million refinancing secured for private surgery clinic

The Challenge

A private cosmetic and reconstructive surgery provider in Belfast, required urgent refinancing of its acquisition debt and additional funds to meet deferred consideration obligations. Acquired in late 2023 by investors, the business was funded entirely by a £5 million loan from a private credit fund, however, the high interest rate was constraining cash flow, whilst looming deferred consideration payments added pressure.

Our Approach

We led a comprehensive debt refinancing process, preparing a detailed Information Memorandum and collating supporting materials to facilitate lender due diligence. Our team approached a variety of potential lenders including clearing banks and alternative credit providers, positioning the opportunity as a viable cash flow lending proposition despite limited tangible security.

The Outcome

Our deal advisory team successfully secured a £7 million debt facility from a clearing bank, enabling full repayment of the original loan and funding deferred consideration obligations. The new facility reduced the company's cost of funds from 14% to base +3.4% per annum, delivering substantial annual interest savings and significantly improving cash flow.