Beechbrook makes two deals from UK SME fund

The fund focuses on UK SMEs not backed by a private equity sponsor.

Beechbrook Capital has made two additional deals from its UK SME Credit I fund. The deals take the number of transactions undertaken by the fund up to eight in total.

The fund has provided unitranche financing to business communications provider plan.com and Infomedia – a company facilitating consumers being billed for digital purchases via their mobile phones. Further terms of the financing could not be determined by time of publication.

“We’re always looking for growth companies that are management owned,” Jon Herbert, managing direct at Beechbrook and manager of the fund, told PDI. Both investee companies qualify on this basis, he added.

The financing provided to plan.com will be utilised in growing its subscription base, while the loan facility provided to Infomedia is being used to buy out an existing minority shareholder.

Herbert added UK SME Credit I is now roughly “half way” through putting committed capital to work. According to PDI data, the fund has £151 million ($193 million, €178 million) in assets under management having launched in 2015.

Beechbrook announced it had reached a final close on its SME-focused fund in February. The firm also provided a £10.4 million facility from the fund to aviation firm 2Excel Aviation in December last year.