Barings Supports Public to Private Transaction of Medica Group plc by IK Partners
Barings announced its role as sole lender of secured credit facilities backing IK Partners’ recommended takeover offer for Medica Group plc.
Barings, one of the world’s leading investment managers, today announced its role as sole lender of secured credit facilities backing IK Partners’ recommended takeover offer for Medica Group plc, an international provider of tele-radiology services with market leading positions in the U.K. and Ireland.
Commenting Matt Carty, Managing Director in Barings’ European Private Finance Group, said: “We are delighted to have supported IK Partners with their takeover offer for Medica. While M&A activity has been slower during the first half of 2023, we have seen an increase in potential take private transactions and Barings is one of few private credit funds with a track record of successfully supporting P2Ps in Europe.”
Daniel O’Neill, Director at IK Partners said. “We are grateful to Barings for their support on this transaction and to have the opportunity to build on our well-established relationship with Barings who provide financing to many of our portfolio companies across Europe.”
About Barings
Barings is a $351+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.
*As of June 30, 2023
About IK
IK Partners is a European private equity firm focused on the healthcare, services, consumer and industrial sectors which has initiated, structured, and financed over 170 private equity transactions across Europe and raised c. EUR 14 billion of capital.
