MDW Capital supports Rockpool’s divesture of Mecsia with a Lender Education

 

London, 13 March 2024

MDW Capital Partners LLP is pleased to announce its support of Rockpool’s sale of the Mecsia (“Mecsia”).  The Firm led a thorough lender education process that provided strong financing appetite to support bidders’ offers, culminating in contracts being signed for Synova to acquire Mecsia.

Rockpool supported the management buyout of Mecsia in December 2020, and subsequently funded the acquisitions of Acorn Engineering, SK Heating & Cooling, and Artic Building Services.  Mecsia is now a leading provider of technical inspection and maintenance services across the UK.  It uses disruptive smart technology to deliver building maintenance, testing and compliance services across nine engineering hubs, providing best in class service to clients and helping to reduce their costs and drive sustainability in the process.

Rockpool engaged MDW Capital to lead a differentiated lender education process; a process that would provide bidders with credible and deliverable financing solutions that they could rely on to support their offers.

Tom Coey, Rockpool Investment Director, commented “it was clear from the outset that MDW Capital’s approach to lender education processes was very different to that we had seen previously.  They led an extremely thorough lender education process, from which bidders could place much greater reliance on the deliverability of the acquisition financing they would need.  That in turn, helped support both our sales process and drive deal value.  Thank you for delivering such a well-run debt process.”

David Culpan, Managing Partner at MDW Capital added “lender education processes have become an increasingly common part of a sales side process but unfortunately, they have also become a commoditised product that creates little value to the seller, the bidder or the lenders.  Having been recipients of lender education processes ourselves as both investors and advisors, we have identified a smarter way to use these processes to help our clients.  Our approach is very different and is synonymous with our approach to all transactions in that we drive maximum value add for our clients be that working on a buy side or sales side mandate.”