ThinCats has provided £1.6m debt refinance funding for Mobius Networks Limited (MNL), a market leading mobile virtual network operator.
The funding will be used to refinance NVM and management loan notes issued following a management buyout supported by NVM Private Equity in September 2019.
The Thincats deal team was led by Kevin Steven, Kenny Hughes, Steph Elgie and Tom Maguire.
Douglas Gilmour, Managing Director MNL: “We were delighted when NVM supported our MBO last year and this funding from ThinCats shows their confidence in our ambitious growth plans. The fact that NVM and ThinCats already knew each other was a great help in quickly structuring a suitable debt structure.”
Kevin Steven, Director, Regional Business Development, ThinCats: “In an increasingly data-connected world, MNL provides a critical role in ensuring the successful adoption of Machine-to-Machine and Internet-of-Things applications. We are supporting more and more private equity backed businesses and were delighted to be able to support Douglas and Andy with this transaction.”
MNL has a strong market position in a high growth sector, which is why we invested in 2019. It’s great that ThinCats shares our view of MNL’s huge potential. We have worked with Kevin, Kenny and the ThinCats team previously on debt structures for other companies in our portfolio and look forward to working with them again in the future.
Andy Leach, Investment Partner of NVM Private Equity