One in every of Britain’s largest debt assortment companies has referred to as in restructuring specialists simply months after finishing a refinancing aimed toward shopping for it further respiration house.
Sources near Lowell mentioned the mandate was targeted on monetary forecasting for the group, which is owned by non-public fairness agency Permira and the Ontario Academics Pension Plan.
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Through the summer season, Lowell accomplished a £1.6bn debt refinancing which pushed out its reimbursement deadline by three years, and lowered secured debt by £450m.
Lowell operates within the UK, Germany, Austria, Switzerland, Denmark, Norway, Finland, and Sweden.
It had been exploring a sale of its Nordic operations, though the standing of that course of was unclear.
The corporate was fashioned in 2015 following the merger of UK and German market leaders Lowell Group and GFKL Group.
Three years later, it accomplished the acquisition of rival Intrum’s Nordic enterprise.
Within the UK, it competes with the likes of Arrow Group, which can be non-public equity-backed.
A Lowell spokesperson declined to remark.
