WhiteHorse provides refinancing to UK-ad firm

The firm’s credit affiliate has provided a flexible unitranche facility to a UK-based advertising firm, refinancing its existing debt.

HIG WhiteHorse, the credit-focused affiliate of Boston-based HIG Capital, has provided refinancing to UK-based advertising firm Primesight Limited.

The refinancing package provided by WhiteHorse consists of a £27 million (€32 million, $33 million) unitranche facility. Further terms of the refinancing could not be determined by time of publication.

The debt is being utilized to allow Primesight to invest in additional digital billboards and additional technologies, according to a company announcement. The ad firm has approximately 20,000 panels which it sells to prospective advertisers directly or via advertising agencies.

WhiteHorse typically provides financing between €10 million and €75 million, a company announcement notes. It generally focuses on firms with EBITDA above €40 million, according to the announcement.

The firm recently made two debt-focused hires, adding personnel in Chicago and Stamford, Connecticut.

A spokeswoman for WhiteHorse did not respond to requests for additional comment by time of publication.