Altenburg Advisory is delighted to have advised Tern Capital (“Tern”) in arranging a
multi-million pound acquisition facility from Shawbrook Bank to fund the
acquisition of C.A. Design Services Limited (“CADS”) from Koninklijke Boskalis B.V.
Commenting on the new debt facilities, Karthik Dasari, Founder of Tern Capital
said: “The Altenburg Advisory team exhibited unwaverin
g dedication throughout the
process which was vital to finding the right partner to support Tern and achieve a
remarkable outcome for the business. Altenburg’s proactive engagement and
adeptness in adhering to crucial timelines proved indispensable and it was a
pleasure to work with the team on this transaction.”
John Hunter, Director at Shawbrook, said “It has been a real pleasure working
with Tern on this acquisition which marks an exciting new chapter for both
businesses. Tern have already built a strong portfolio of fantastic technology
companies and the hands-on approach Karthik and the team take with their
partners is truly admirable. I have no doubt that with Tern’s expertise, CADS will
continue to solidify their status as a market leader in the fields of technology-led
surveying and retail planning.
I would also like to extend my gratitude to Ross, Adam and Dan at Altenburg
Advisory for their debt advisory work on this deal, it was a pleasure to work with
Dan Barrett, Partner at Altenburg Advisory, said: “It has been a pleasure
working with Karthik and the Tern team on this transaction. Tern’s technology
expertise was a key part of them winning this deal, and we are excited to watch
how the next chapter for CADS plays out with Tern working closely alongside the
existing experienced management team.”
Tern is a hands-on lower mid-market private equity house specialising in B2B
technology and tech-enabled businesses. Tern, founded in 2011 by Karthik
Dasari, is a specialist technology investor who has a proven track record with
similar transactions of supporting technology-led businesses to scale successfully
and is currently actively involved in the running of its four portfolio investments.
About C.A. Design Services Limited
Over the last c. 40 years, CA Design Services (“CADS”) has built a market-leading
position as a leader in technology-led survey and retail planning with customers in
25 countries across five continents serving global brands and international
retailers. CADS’ proprietary SaaS solution, StoreSpace®, has doubled in the last
few years to help retailers maximise its ROI on store footprint. CADS delivers
mission-critical macro-planning and retail store analytics covering over 90M sqft
of space across c. 9,000 stores; the solution is actively used by 8,000+ users in 20
Shawbrook is a new type of specialist financial services company, combining the
relentless focus on customer service and innovation you would expect from a
fintech with the expertise and certainty of a bank. Shawbrook is driven by a
purpose to solve complex problems that unlock opportunity for its rapidly
growing customer base of over 450,000 UK consumers and businesses.
Shawbrook is authorised by the Prudential Regulation Authority and regulated by
the Financial Conduct Authority and the Prudential Regulation Authority. Find out
more at www.fca.org.uk or www.bankofengland.co.uk/pra.
About Altenburg Advisory LLP:
Altenburg Advisory is a specialist debt advisory firm that works with established
businesses seeking debt financing to help them achieve their strategic objectives.
Altenburg advises on structuring and arranging bespoke financing solutions, with
a focus on leverage finance, ABL, speciality finance, and real estate funding.