London, June 6, 2024 – AURELIUS Finance Company, the Private Debt segment of AURELIUS, is pleased to announce the completion of a £10m finance facility to support Pelican Capital’s acquisition of Finders International.

The facility is structured as a £10m senior-secured RCF, which will deliver funding towards the purchase consideration, as well as provide ongoing working capital to drive growth. Availability under this highly bespoke facility is linked to the value of Finders’ working capital, which will create additional liquidity for the business as it grows.

Finders is the UK’s market leading professional probate research, data and technology firm. Founded in 1997, it uses proprietary technology to offer clients a comprehensive range of probate services, including heir identification and location, as well as full estate administration services for clients worldwide. The company has offices in London, Dublin, Cardiff, Edinburgh, Hull, and Australia, employing around 130 staff and with an international network of partners and agents.

The transaction was backed by Pelican Capital, a highly successful lower mid-market private investment firm focused on acquiring and growing profitable companies needing up to £30m of equity to facilitate ownership change and drive growth.

James Marler, Director and Head of New Business at AURELIUS Finance Company commented: “We invested the time to get to know Finders, the nuances of its business model, and the wider market dynamics. This gave us the deep insight we needed to create a highly bespoke revolving loan facility tailored exactly to the requirements of the transaction. It also showed us what a solid, well-run company Finders is, with a strong market position. Needless to say, we are very happy to be partnering with Finders and Pelican as part of this transaction, and look forward to seeing the business flourish under Pelican’s ownership. The transaction was introduced to us by ACP Altenburg Advisory, who we worked with closely and who were invaluable throughout the process.”

He added on a more general note: “At AURELIUS Finance Company we have always sought to be the financing partner of choice for small and midcap private equity firms undertaking complex M&A-linked financings. This transaction, alongside our recent £18.5m financing of Trutex, reaffirms our strong capabilities in this area.”

Richard Morrison, Partner at Pelican Capital said: “We are delighted to have acquired Finders, with the support of the team at AURELIUS Finance Company.  This was a complex transaction, which required a bespoke financing arrangement. We were impressed by the team’s ability to precisely tailor this facility to the needs of the business and then deliver it at pace. Their pragmatic approach to some of the specific requirements of this transaction helped to ensure a smooth completion.”

AURELIUS Finance Company was advised by Shoosmiths (Legal). Pelican was further advised by ACP Altenburg Advisory (Debt Advisory), Stephenson Harwood (Legal), Evelyn Partners (Financial and Tax diligence), Claritas Tax (Tax Advisory), Fairgrove Partners (Commercial Diligence) and Alembic Strategy (Management Profiling).