THI Investments and management have recapitalized Corndel
Corndel is the go-to provider of high-quality leadership and digital training for large employers across the United Kingdom. The company serves over 100 loyal blue-chip clients with a particular focus on the banking, insurance and professional services sectors.
Backed by THI Investments, a family-owned private equity investor with total AUM of > €1.8 billion, management aims to further increase market share by expanding the number of courses offered and transform Corndel into a diversified skills and people development business through a mixture of organic growth initiatives and complementary mergers and acquisitions.
Lincoln acted as debt advisor to Corndel, managing the entire capital raise process to deliver a financing package that will support the business in achieving those objectives.
Kevin Rose, Chief Financial Officer of Corndel, commented, “The Lincoln team worked tirelessly to deliver a capital raise fully tailored to support our strategic growth plan. With this additional financial support we can accelerate delivery of our ambition to democratize learning by enabling greater usage of the levy, grow our product offering and delight both our learners, by having a meaningful impact on their lives and careers, and our clients, by offering a fantastic product and service. We were very pleased to be able to incorporate the ESG component.”
Aude Doyen, Managing Director at Lincoln, stated, “We are pleased to have assisted THI Investments and Corndel on this transaction. The inclusion of a margin ratchet linked to ESG performance indicators in the financing terms demonstrates the commitment of all stakeholders involved, including us as advisors, to contribute to a more sustainable growth model.”
Lincoln did a great job supporting the process and helping select the right financing partner for Corndel with a package that suited both the businesses' ambitions including expanding the range of standards offered, upskilling new types of learners and targeting commercially funded opportunities; as well as its culture, with the ESG component of the facility.
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