Barings Backs Inflexion’s Re-investment in the British Engineering Services Group
Feb 18, 2021
Barings, one of the world’s leading financial services firms, today announced that it has served as the sole lender on a senior secured credit facility to support Inflexion’s re-investment in the British Engineering Services Group (“BES”). Headquartered in the UK, BES is an engineering testing, inspection and consulting services specialist. Financial terms were not disclosed.
“BES provides essential technical engineering services to its customers and has benefitted from significant investment and growth under Inflexion ownership. We are delighted to support Inflexion’s re-investment, further strengthening our two firms’ long-term relationship.” said Matt Carty, Director in Barings’ European Private Finance group. “In the current market environment, we remain focused on opportunities to invest in high-quality companies backed by top-tier sponsors, which BES certainly represents.”
“It has been a pleasure to work with Barings” said Philip Edmans, Partner at Inflexion. “They quickly demonstrated a strong grasp of BES’s business model and delivered a flexible financing package that will support our future growth plans.”
British Engineering Services was founded as a result of the carve-out of the Engineering Inspection & Consultancy division of RSA Plc, a division which can trace its roots back to 1859. Its predecessors were the companies who developed the original engineering inspection services, National Vulcan and British Engine. Today the company has more than 450 highly trained Engineer Surveyors and Consultant Engineers, strong customer support systems and a wealth of technical expertise.
Barings is a $345+ 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. Learn more at www.barings.com.
*As of December 31, 2020
Barings Global Private Finance is a 60+ investment team globally, with a 40-year track record of successfully financing middle-market buyouts, acquisitions, and recapitalizations. With product capabilities that range from traditional senior debt to bespoke junior capital securities, and hold sizes of £200 million+, Barings is focused on providing capital solutions that help our private equity clients complete their deal on time and as expected. Our long-term commitment to the asset class, local origination in each region, consistent team, and broad range of investment capabilities, are designed to provide investors an absolute spread premium to broadly syndicated loans as well as an attractive risk-adjusted return potential.
Inflexion is a leading UK mid-market private equity firm, investing equity of £10m to £300m in high growth, entrepreneurial businesses with ambitious management teams and working in partnership with them to deliver growth. For more information, visit www.inflexion.com.
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