Background
- iCON Infrastructure LLP (iCON) is an independent investment group with over €2.5bn in assets under management, focusing on privately held investments in infrastructure assets in Europe and North America
- Choice Care Group (Choice) is a leading provider of residential and supported living services for people with learning disabilities and mental health conditions, in the UK
Process
- DC Advisory (DC) was mandated to provide both debt and M&A advice
- DC assisted iCON with a bilateral acquisition process governed under a memorandum of understanding providing exclusivity at the indicative offer stage
- DC provided comprehensive financial advisory services to iCON including:
- (i) process strategy and tactics;
- (ii) due diligence co-ordination;
- (iii) business plan review;
- (iv) financial modelling and valuation;
- (v) acquisition debt raising; and
- (vi) support in negotiations with the seller and advice on transaction documentation, including SPA and management incentive plan.
- DC ensured all workstreams were successfully completed in a challenging timeframe
Outcome
- DC leveraged its sector experience in specialist care and its leading position as an adviser to infrastructure clients in Europe to support iCON in its acquisition of Choice
- Debt financing was arranged by DC on a demanding timetable from a group of new and existing lenders
