Squire Patton Boggs has advised entrepreneurial-focused lender OakNorth Bank on the provision of loan facilities to support Rubicon Partners, a London-based investment partnership, in its acquisition of CMD Limited, a premium British power and connectivity manufacturer.
OakNorth Bank offers flexible debt financing, ranging from £250,000 to tens of millions, to high-growth businesses across the UK, including property developers, care homes, specialist schools and nurseries, hotels, bars and restaurants, pub operators, as well as fund and specialist finance providers.
Financial Services partner Matthew Ingram and director Andrew Kirkham advised OakNorth Bank on the transaction, with assistance from Real Estate partner Bradley Silver on real estate matters. This is the team’s second transaction for the client within a month, following advising on OakNorth Bank’s £6.5 million loan to MoneyPlus, a provider of consumer debt advice.
Founded in 1984, CMD creates solutions to meet the challenges of integrating power and AV/data access for people working in offices and commercial spaces. Headquartered in Rotherham, South Yorkshire, CMD employs 158 people. The existing management team will continue to lead the business and work alongside Rubicon to develop the business further.
Established in 1993, Rubicon Partners has invested in 78 UK and international companies valued between £15 million - £250 million to date. It is currently invested in six companies, including CMD, via its Fund V and had previously invested in CMD during 2001-2008.