Reed Smith has advised CBPE Capital and Xafinity on an £89 million refinancing and dividend recap.

The all-senior debt package was provided by HSBC, Lloyds, Bank of Ireland and Babson Capital.

The Reed Smith team was led by finance partner Nicholas Williams, corporate partner Philip Taylor and tax partner Caspar Fox, with associates Benjamin Vicentini, Adam Ruddock, James West and Ravi Pattani.

Xafinity provides a range of actuarial, pensions, healthcare and other employee benefits consulting and administration services. It is headquartered in Reading, with over 400 employees operating from six regional UK offices.

CBPE Capital invested in Xafinity in 2013, acquiring the business from the Equiniti Group.

The debt process was run by Deloitte, with Proskauer Rose acting as lender counsel.