Babson backs Electra buyout

The private debt firm has joined with a trio of banks and one pension fund to finance the £180m acquisition of Ogier’s fund administration arm by Electra Partners.

Babson Capital Europe is one of several lenders providing financing to support the acquisition of Ogier Fiduciary Services by UK-based private equity group Electra Partners.  

The private debt firm has provided debt financing alongside pension fund Alberta Investment Management and banks HSBC, Lloyds Banking Group, and RBS.  

Electra is paying £180 million ($294 million; €218 million) for the business, comprising £83 million in its own equity, “a significant investment” by the company’s management team, and the remainder in debt.  

The Ogier Group established Ogier Fiduciary Services in 1998 to provide trust, fund and company administration services to corporates, private clients and investment funds.