Saffery Champness supported The MCG Group (MCG) on the provision of a £20 million funding package from Tosca Debt Capital (TDC). Led by Niraj Patel and supported by Seb Cartwright, Andrew Fraser and Sophie Lomas. The firm provided financial and tax due diligence services on the transaction.
The MCG Group is a specialist recruitment business, providing staffing solutions into a number of sectors including construction, education, healthcare and technology. They 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 The MCG Group to continue along its growth trajectory and achieve its 5 year plan.
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 their new integrated finance offering which is designed to offer structured debt financing alongside minority equity investment.
Niraj Patel commented: “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.”