Ovarro, a portfolio company of FFL Partners, has been refinanced


Ovarro is a leading industrial technology business providing data driven solutions for the remote monitoring and control of critical infrastructure assets across the globe. Ovarro works with customers in key end markets including water, power, energy and transport, to improve operational efficiency and create a more sustainable future. The business was acquired by FFL Partners in 2019 and has since grown organically and through acquisitions, having completed three acquisitions to date. Ovarro is headquartered in Sheffield, England, with sales and manufacturing presence across key markets in the Europe and Asia Pacific regions.

The Deal

FFL Partners sought to refinance existing dollar denominated financing that was provided by a U.S. bank and put in place on acquisition. Lincoln International ran a competitive refinancing process, carefully articulating the criticality and environmental, social and governance (ESG) positive nature of Ovarro’s offering, resulting in a favorable financing package with a lender local to the business, which provides both flexibility and capacity to support the continued growth of the business.

David Frost, Chief Executive Officer of Ovarro, commented, “Lincoln ran an extensive financing process, providing support and advice to the business throughout. We are very pleased to have secured a strong financing package that will enable us to continue delivering our growth.”

Greg Long, Partner at FFL Partners, added, “Lincoln’s knowledge of the UK lending market was invaluable, they guided us through the various funding structures and lending partners and relentlessly drove the process to a successful outcome. We are delighted to have found a new UK lending partner that recognizes the value and importance of the Ovarro proposition.”

Our Perspective

Sophie Pollitt, Lincoln International Director who co-led the transaction, commented, “Ovarro provides critical solutions which help tackle fundamental ESG challenges such as water leakage and water pollution. We were delighted to support FFL Partners and Ovarro in navigating the UK lending markets to put in place a competitive financing structure despite more challenging financing market conditions.”

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