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AUD$97m Senior Debt Facility for Minova Acquisition

BZ has structured an AUD$97m senior debt facility to support European investment company AURELIUS with its acquisition of Minova. The comprehensive hybrid funding package, which comprised asset-based lending and cashflow term loan facilities, is also being used to partially finance the purchase price.

This was a complex global carve-out transaction, with the business being spun out from Orica Limited, the large Australia-based multinational provider of commercial explosives and blasting systems. Minova is a global manufacturer and supplier of safety equipment and ground support to mining, construction and infrastructure sectors. BZ is providing funding for its businesses in the UK, Australia, Poland, US & Canada.

BZ was advised by PwC (pre-lend review), Hilco Valuation Services (collateral due diligence) and Crowell and Moring (legal). AURELIUS was advised by Norton Rose (legal).

BZ offers structured, multi-jurisdictional ABL facilities from £10 million to £150 million that deliver working capital and corporate structuring solutions.