Attract Capital, a New-York-based mezzanine advisory firm, is expanding its market coverage to the UK.
David Barnitt, the firm’s founder, said in a statement that the mezzanine market in the UK is under-served, particularly in the lower mid-market.
“The UK market has many great up and coming companies in need of capital to get to the next level. We believe our lending platform and structuring expertise will deliver the financing these companies need,” Barnitt said. He indicated that its US-based lenders are increasingly interested in seeing more deal flow out of the UK.
Founded in 2000, Attract plans to bring its experience of more than 10 years sourcing mezzanine in the US to companies in the UK, particularly those which are shut out of the bank loan market or finding it too expensive to raise equity.
Attract has previously worked in the UK, assisting Tensator, a leading queuing products company, with acquisition financing and its subsequent sale. Tensator’s former owner, Jeremy Williman, said that Attract had “delivered capital for many companies who thought it impossible to obtain.”