DLA Piper advises on £113.5m multi-creditor unitranche refinancing

DLA Piper has advised GE Capital International and Ares Management on the provision of a £113.5m unitranche facility to refinance Hillarys, a UK provider of domestic blinds and window fittings owned by European Capital.

The facilities include a term unitranche component, a junior term debt component and a revolving credit facility.

This is the ninth transaction completed by the European Senior Secured Loan Programme (ESSLP), a €1.7bn (£1.35bn) joint venture between the two firms.

The ESSLP has provided financing to support private-equity-backed businesses across Europe and spanning a range of sectors, including the recent financings for Infovista, owned by Thoma Bravo; Parkdean, owned by Alchemy; NoteMachine owned by Corsair; and Montagu’s acquisition of Dutch Ophthalmologic Research Centre (DORC).

The DLA Piper team was led by partner Alex Griffith, who acted as senior transaction counsel and advised on the unitranche aspects of the deal supported by senior associate Meghna Tiku and associates Julia Garrett and Harriet Roberts.

Revolving facility advice was provided by UK head of finance and projects Philip Butler and senior associate Smridhi Gulati, with partner David Miles advising on the junior term facility.