Wragge & Co has advised long-standing client Santander UK plc on a third Growth Capital deal in as many months. A team of banking specialists, led by banking partner Kirsty Barnes, advised the bank on providing four loan facilities totalling £1.5 million to Zest Foods Ltd, part of the Tossed group. The funding will enable London salad bar chain Tossed to open a further eight new stores in addition to its existing portfolio of eleven.
Kirsty Barnes said: "We have advised Santander's Growth Capital team on three successive deals during the past three months. Negotiating this latest transaction drew on the team's technical expertise and commercial know-how. Our knowledge of Santander's preferred style of working and understanding of its strategic objectives enabled us to quickly secure the right deal."
Santander UK Corporate Banking director, David French added: "It's been a very fruitful few months of co-operation and we enjoyed working with the Wragge & Co team. Their pro-active approach was key to getting the deal over the line."
On this transaction, Kirsty was assisted by banking associate Jonathan Segal and solicitor Navin Prabhakar. They worked closely with David French at Santander to complete the transaction.
Santander UK plc is one of the UK's leading personal financial services companies, employing more than 25,000 people and supporting more than 15 million customers. Wragge & Co has been acting for Santander since 1999 and was reappointed to its UK legal panel in July 2011. During the last three months, the firm has advised the bank on providing Growth Capital Funding to digital music service I Like Music and IT management systems company TDB Fusion.
Wragge & Co's Banking and Finance team provides a partner-led service and top-quality legal advice. The team advises banks, corporates, private equity companies and public bodies on a full range of domestic and cross-border transactions. Its lawyers operate "seamlessly" as one team from offices in Birmingham and London. (Chambers UK 2013).
Highlights from the past 12 months include: acting for SLR management on group refinancing of existing facilities; advising HSBC Leveraged Finance on a multi-million pound private equity deal; and supporting Accell Group on its US$100 million acquisition of iconic brand Raleigh Cycle.
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