Travers Smith LLP has advised Horizon Capital (Horizon) on the £75 million refinancing of its portfolio company, Churches Fire (Churches), a Southampton-based provider of fire safety and security compliance services.
Churches secured the significant refinancing package from HSBC UK and HSBC Asset Management's new Senior Direct Lending Fund, Northleaf Capital Partners and Siemens Bank. The senior debt package will be used to support the continued acquisitive growth in the fire safety and security market in the UK, with Churches having acquired 14 businesses since Horizon’s investment in 2017, including two recent acquisitions.
Churches delivers a full range of fire safety and compliance services to over 15,000 commercial customers, from fire risk assessments to maintenance services as well as monitoring of detection, containment, evacuation and electronic security systems.
The team was led by Head of Finance Matthew Ayre, supported by Senior Associate Will Sheridan, Associate Katie Moran, and Trainee Sana Shafi.
