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Saffery Champness supported The MCG Group (MCG) on the provision of a £20m funding package from Tosca Debt Capital (TDC).
The MCG Group is a specialist recruitment business, providing staffing solutions into a number of sectors including construction, education, healthcare and technology.
TDC is a private debt fund which has a focus on supporting growth plans of the UK lower mid-market and this transaction is the first example of its new integrated finance offering which is designed to offer structured debt financing alongside minority equity investment.
It revealed the activities were led by Niraj Patel and supported by Seb Cartwright, Andrew Fraser and Sophie Lomas, providing financial and tax due diligence services on the transaction.
According to the firm, MCG have “enjoyed” a period of significant growth, both organically and through acquisition, having purchased three businesses over the past 12 months.
The funding package will help MGC to continue along its growth trajectory and achieve its five year plan.
Patel said: “It was a privilege to work with both The MCG Group and TDC on this transaction, another deal which will vastly help MCG’s development. I look forward to seeing MCG continue to go from strength to strength and support them in achieving their ambitious growth plans.”
