Proxima Group has been recapitalized to support its buy and build strategy
With 300 consultants split between the United Kingdom and the United States, Proxima provides procurement consulting and implementation services to Fortune 500, FTSE 350 and central government bodies. The firm is a global leader in the delivery of indirect spend optimization programs which often complement the procurement functions of its clients. The firm’s subject matter experts cover all indirect spend (selling, general and administrative expenses) categories with additional coverage of transformation, capital expenditures, working capital and direct spend categories.
Proxima is supported by EST Partners, a newly formed private equity firm focused on the global professional services sector.
Lincoln acted as the debt adviser to Proxima, managing the capital raise process. The financing package provides a liquidity solution for legacy shareholders and positions the business for the next phase of organic and inorganic growth.
Matthew Eatough, Chairman of Proxima, commented, “We have concluded a successful debt recapitalization. This is the first time we have attracted external capital, and the support of the Lincoln team was invaluable in navigating the process and securing a great partner in Pricoa. Lincoln was supportive, proactive and always available throughout the process. I would have no hesitation in using them again to support our ongoing development.”
Aude Doyen, Managing Director at Lincoln, stated, “With EST Partners and Pricoa as partners, Proxima is well-positioned to consolidate the growing procurement consultancy market in Europe and the United States. The day one multi-currency financing package is another example of Lincoln’s ability to support cross-border financings.”
Lincoln demonstrated their sector knowledge and rigorous execution throughout the process. We look forward to the next transaction with the team as we embark on our buy and build program.
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