Brighton-based SRC Corporate Finance has advised the management of fintech firm Clear Treasury on securing the funding facility required to complete a buyout of the business and provide increased working capital.
Clear Treasury is a fintech group specializing in payments and foreign exchange services, supported by a team in London and Dublin.
The business operates across a variety of industries including sports, finance, IT services, legal and business support, targeting larger SMEs, and has been trading since 2010.
Co-CEOs Jordan Tilley and Peter O’Flanagan, as well as commercial director Paul Reilly, bought a 75 percent stake in 2020 and have since grown the business through the rollout of new service offerings and technologies.
This latest transaction means that the management team now owns 100 percent of the business and facilitates a full exit for the minority shareholders.
The deal was supported by a tailored five-year financing package provided by SME Capital.
Rupert Rawcliffe, founder of SRC Corporate Finance, said: “Our team worked closely with Jordan, Pete and Paul to understand their ambitions for Clear Treasury which led to a thorough preparation phase.
“We then worked with management to identify and articulate the key value drivers to a select group of funders before selecting SME Capital as the preferred funder based on strong cultural fit and a funding package that ticked all the boxes.
“The smooth process is a testament to how well the team works together and how strong Clear Treasury’s processes and systems are. It was a real pleasure working with the team and I am confident that the ongoing goals will be fully achieved.”
Jordan Tilley, CEO of Clear Treasury, added: “We would like to thank Rupert and his team at SRC Corporate Finance for the swift and professional process they ran on this hugely significant transaction for Clear Treasury.
“Having understood our long-term ambitions, SRC helped advise on the tailor-made financing package offered by SME Capital, which not only enabled the management team to achieve the objective of financing the acquisition of our minority shareholders, but also provided the increase to the working capital which will help drive the business along its already rapidly accelerating growth path.”
The management group was also advised by Bracher’s law firm.
Claire Williams, partner (corporate and commercial), who led the team, said: “We are delighted to have helped our long-standing clients with this deal and were really impressed by the speed and professionalism of everyone involved. We wish Clear Treasury management all the best success and look forward to working with them again in the future.”
James Lowe, Regional Director of SME Capital, added: “Many thanks to the SRC Corporate Finance team for working with SME Capital on this transaction. Rupert and Ben ran a fantastic process which helped the transaction to be completed smoothly on a tight timeframe.
“From the first time looking at this opportunity, it was clear that Clear Treasury is in a unique position, using a technology first approach to support an impressive customer base across payments and currency services.
“We are delighted to have supported Clear Treasury with a finance package that completed the management buy-out of the business and we look forward to building a successful partnership as we seek to support Jordan, Peter and Paul with their strategic objectives.”
