Nexus Vehicle Holdings Limited (“Nexus”) is a leading B2B vehicle broker. It connects vehicle rental companies with corporate customers via a proprietary online booking and rental management system that automates and streamlines the procurement process. Nexus often fulfils complex booking requirements that may involve specialist vehicles, remote locations or short-notice supply.
DC Advisory ("DC"), provided both buyside M&A and debt advice to Bowmark Capital (“Bowmark”) on the transaction.
DC provided deep insight into the transaction dynamics, helping Bowmark to move ahead in the process and secure preferred bidder status.
Using our significant expertise and experience in the automotive services market, DC also provided Bowmark insight into the business, its market positioning and how it might best develop its business.
The £51m management buy-out signed on 3 December 2015.
In parallel, DC targeted a select group of lenders who were able to meet the client’s financing objectives and deliver to a tight timetable. Bowmark secured an attractive debt package with significant firepower to support further acquisitions.
Debt funding completed on 17 December 2015.
We are delighted to have advised Bowmark on their investment in Nexus. This is the third automotive services transaction we have advised on recently and we look forward to bringing that knowledge to bear to help Bowmark and management drive the business forwards over the coming years.