Alantra advised Lonsdale Capital Partners on the recapitalization of Charles Cameron & Associates

Dec 2018

Debt refinancing

Alantra, the global mid-market investment banking firm, has provided debt advisory services to Lonsdale Capital Partners (“Lonsdale”) for its majority investment in London-based mortgage broker Charles Cameron & Associates (“CC&A”). The Alantra team comprised Andrew Lynn, Partner, Guy Taylor, Director, and Luke Parvin, Associate.

Alantra’s debt advisory team, which supports financial sponsors, business owners and management teams, has over the last twelve months in the UK raised over £700m of facilities across a range of sectors and deal types. Andrew Lynn, Partner at Alantra, commented: “Despite the uncertain political backdrop and related concerns, our ability to demonstrate the strength of Charles Cameron & Associates’ market position and unique model ensured that we received good support from a range of debt providers. This allowed a flexible structure to be developed to support the business plan through the cycle.”

CC&A has a unique model, partnering with blue chip corporates including investment banks, professional services and tech firms in the UK, as well as specialist employee benefit providers. It provides a fee-free mortgage broking service to employees alongside seminars and information on financial wellness and education. CC&A works closely with the HR and Benefit teams at each partner firm to ensure that the service offered to employees is tailored to each company. The business also advises high net worth individuals that are referred by its network of private banks and wealth managers. The Company has grown rapidly over the last two years, increasing its corporate partner base from around 100 to 150, and its revenues by a CAGR of 16%.

With Lonsdale’s support, CC&A intends to expand further its base of corporate partners, as well as its network of specialist employee benefit providers. Alongside the mortgage broking surgeries, the Company plans to expand its capabilities so that it can serve clients when it suits them, including digital and mobile tools to allow clients to access the service anywhere.

CC&A was launched in 2004 by majority owners Simon Nimmo and Peter Smith.Simon will continue as CEO post-completion and will roll over a significant proportion of his sale proceeds. Simon has over 25 years’ experience in the mortgage industry having previously founded and subsequently sold his interest in Alexander Hall to Foxtons. Andy Chetwood, Director of Lonsdale Capital Partners, said: “In CC&A, we are backing a business that fulfils Lonsdale’s key investment criteria: a growing sector, a strong market position and a highly capable management team.CC&A has a fantastic distribution model with no direct competitors and strong relationships with an impressive group of blue-chip corporates.The Company has grown fast, and we expect this to continue as corporates look to improve the benefits they offer their employees. Simon has a huge amount of experience in the mortgage industry, and we look forward to working with him and the wider management team to take the business to the next level.”

Simon Nimmo, Founder and CEO of CC&A, said: “CC&A enables businesses to offer their staff high quality advice when they are making one of their most important financial decisions. The proliferation of mortgage products and the increasing scrutiny of application suitability on the part of providers has made this a complex and demanding process. Our clients are organisations that are motivated to recruit and retain the best people and are highly motivated to look after their well-being. Working closely with our new investment partner Lonsdale, we look forward to enhancing the service that we provide, as well as increasing the number of organisations – and in turn the number of employees – that we advise.”