Beechbrook Capital makes two investments from UK SME Credit I
25 April 2017
25th April 2017 – Beechbrook Capital, the specialist direct lender, has completed two more investments in the UK SME Credit I Fund, which provides finance to non private equity-backed UK SMEs.
The fund has provided financing to support the continuing rapid growth in the subscriber base of plan.com, a business communications provider with offices in the Isle of Man and Manchester. Founded in 2014, the company has been winning market share with its market-leading software and outstanding customer service.
UK SME Credit I has also backed Infomedia, a Direct Carrier Billing provider, whose services enable brands conveniently to charge digital purchases to customers’ mobile phone accounts. Beechbrook has provided a unitranche loan to finance the buyout of a minority shareholder and support the company’s growth plans. The UK SME Credit fund has now made eight investments.
Jon Herbert, managing director of the fund, commented: “The investments in plan.com and Infomedia are great examples of the strong demand from high quality UK SMEs for the flexible growth capital we offer. We are delighted to be able to support both companies, which have highly impressive management teams.”
Neil Kelly, finance director of plan.com, said: “The Beechbrook team were great to work with and we are looking forward to having them as a partner through the next stage of plan.com’s growth.”
Michael Tomlins, chief executive of Infomedia, added: “The Beechbrook team delivered a flexible funding package that met our objectives and our timetable. We look forward to working together over the next few years as we grow Infomedia and take advantage of the significant market opportunities that exist.”