SME Capital is delighted to be providing a bespoke 5 year funding package to support the completion of Clear Treasury's management buyout.
Clear Treasury will continue to be led by its management team comprising CEOs Jordan Tilley and Peter O'Flanagan and CCO Paul Reilly.
Clear Treasury is a fintech group specialising in payments and foreign exchange services through a technology first approach, backed by an expert team in London and Dublin. The group operates across a diverse range of industries including sport, finance, IT services, legal and business support, targeting larger SMEs.
The business has been trading since 2010 and Jordan, Peter and Paul acquired a 75% stake in 2020. They have since rapidly grown the business through the deployment of new service offerings and technologies. This transaction means the management team now own 100% of the business and facilitates the full exit of the minority shareholders.
SME Capital have provided a bespoke five year loan. SRC CF advised the management team on securing the funding facility required to complete the transaction.
James Lowe, Regional Director of SME Capital said of the deal:
"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 complete smoothly on a tight timeframe. From initially looking at this opportunity it was evident that Clear Treasury is in a unique position, using a technology first approach to support an impressive client base across payments and foreign exchange services.
We are delighted to have supported Clear Treasury with a finance package that completed the management buyout 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. SME Capital’s funding will enable management to drive the business forward into the next stage of its development.”
Jordan Tilley, CEO of Clear Treasury said of the deal:
"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 clearly understood our long-term ambitions SRC helped advise on the bespoke funding package offered by SME Capital that not only enabled the management team to meet its objective in funding the buyout of our minority shareholders but also provide the increase to working capital which will assist in driving the business along its already fast accelerating growth path.
We see this as a pivotal moment as alongside the shareholder buyout we have a range of new product releases imminent that will enable our clients even greater access to our payment and foreign exchange capabilities. We will further invest into the teams and technologies that have enabled our business to more than double revenues over the past two years and look forward with excitement on delivering the next stage of our strategic plans.
We would like to thank James and the team at SME Capital and look forward to working with them over the coming years."
Rupert Rawcliffe, Founder of SRC Corporate Finance commented:
"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 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 objectives will be fully achieved."
The management team were advised by Brachers law firm. Claire Williams, Partner (Corporate and Commercial), who led the team added:
“We are delighted to have assisted our longstanding clients on this deal and were truly impressed by the speed and professionalism of all involved. We wish the Clear Treasury management team every success and look forward to working with them again in the future."
Harry Bengough of Harrison Clark Rickerbys Ltd advised SME Capital on the legals.
If you would like to discuss acquisition and growth financing in more detail please do get in touch.
About SME Capital
SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional methods. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions.
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