5 days ago
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One of Britain’s biggest indebtedness postulation agencies has called successful restructuring experts conscionable months aft completing a refinancing aimed astatine buying it further breathing space.
Sky News has learnt that Lowell Group, which has astir 8 cardinal customers successful the UK, hired Teneo Financial Advisory successful caller weeks to enactment with it.
Sources adjacent to Lowell said the mandate was focused connected fiscal forecasting for the group, which is owned by backstage equity steadfast Permira and the Ontario Teachers Pension Plan.
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During the summer, Lowell completed a £1.6bn indebtedness refinancing which pushed retired its repayment deadline by 3 years, and reduced secured indebtedness by £450m.
Lowell operates successful the UK, Germany, Austria, Switzerland, Denmark, Norway, Finland, and Sweden.
It had been exploring a merchantability of its Nordic operations, though the presumption of that process was unclear.
The institution was formed successful 2015 pursuing the merger of UK and German marketplace leaders Lowell Group and GFKL Group.
Three years later, it completed the acquisition of rival Intrum's Nordic business.
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In the UK, it competes with the likes of Arrow Group, which is besides backstage equity-backed.
A Lowell spokesperson declined to comment.
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