Hogan Lovells Advises Claranet Group on new Financing Arrangements

LONDON, 2 April - Hogan Lovells has advised new client Claranet on a new £107m super senior and unitranche financing package provided by Ares Management, Goldman Sachs and The Royal Bank of Scotland plc. The firm separately advised Claranet on the extension of its financing arrangement with ABRY Partners.

Claranet is one of the leading independent managed service providers in Europe, offering businesses integrated network and hosting services. It was recently recognised as a "Leader" in Gartner's Magic Quadrant for Cloud-Enabled Managed Hosting, Europe (2014). The total contracted future revenue of the Group is in excess of €250 million.

The Hogan Lovells team was led by London-based banking partner Stuart Brinkworth (assisted by associate Graham Greenwood) and included partners Michel Quere (Paris), Wouter Jongen (Amsterdam), Katlen Blocker (Frankfurt) and Jose Luis Vazquez (Madrid). Hogan Lovells worked with Claranet's existing Portuguese counsel Pedro Oliveira Cardo (Lopes Dias & Associados) and Jersey counsel Tim Pierce (Bedell Cristin) on Portuguese and Jersey law issues.

Commenting on the transaction, Stuart Brinkworth said:

"We are very pleased to have been able to bring to bear our expertise in the alternative lender space to help one of Europe's most dynamic companies in the managed services sector. This deal shows that unitranche financing is not the sole preserve of private equity".

Nigel Fairhurst, Chief Financial Officer of Claranet Group commented:

“These new facilities show the confidence that our funders have in Claranet and put us on a strong financial footing for further growth in Europe. Hogan Lovells was critical to the process and throughout the negotiations provided advice built upon a solid understanding of our business needs and the technology sector”.

Ares, Goldman Sachs and RBS were advised by Macfarlanes (Andrew Perkins) and ABRY were advised by Kirkland & Ellis (David Arnold).


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