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Venture Finance proves key to Unipart deal

A Venture Finance £37.5m funding line has helped facilitate the independent private equity firm H2 Equity Partners’ acquisition of a controlling stake in Unipart Automotive (UA), the UK’s largest independent supplier of car parts

Patrick Kalverboer, Managing Partner at H2 and the new Executive Chairman at UA, commented: “From beginning to end Venture was obviously highly committed to making this deal work. They responded rapidly to changes in the deal structure with practical and progressive ideas, enabling us to create the best possible funding package for the acquisition and for the future.”

Venture’s Structured Finance Division worked closely with H2, using a comprehensive funding package of Receivables and Inventory Finance to fund the acquisition. H2 has been a client of ABN AMRO, Venture Finance’s parent company since 1992.

Patrick Wilkins, Structured Regional Director at Venture, commented: “H2 already has a close relationship with ABN AMRO, so it’s fantastic for Venture to be able to support this deal in the UK.”

Steve Websdale, Venture’s Managing Director, South, commented: “In today’s climate, private equity houses are increasingly looking to Asset Based Lending to structure new deals. Our relationship with ABN AMRO has enhanced both our ability and appetite to work at this level.”