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Browne Jacobson advise on Blazehill Capital’s second £250m facility which will support the UK business market

24 May 2023

UK & Ireland law firm Browne Jacobson has advised funder Blazehill Capital on its second funding facility worth £250m.

The deal will support the business to expand its specialist funding solutions out to a broader client portfolio, as part of its growth strategy and will be integral in supporting UK-wide businesses against the funding challenges presented by the current economic backdrop.

Fund II has been backed by leading global investor, InterVest Capital Partners and follows on from the success of Fund I which supported the UK’s mid-market businesses with the provision of flexible facilities. The Browne Jacobson team also provided legal advice on this transaction.

London headquartered Blazehill specialises in providing flexible and non-standard secured financing solutions to UK, European and North American mid-market businesses. The business offers secured loans of up to £50m and a broad range of flexible credit options which includes term loans, structured debt, hybrid ABL + cash flow and bridging finance, refinancing, growth turnaround, mergers & acquisitions.

The Browne Jacobson team was led by Birmingham based Banking Partner Paul Hill who was assisted by Senior Associate Melanie Hilton, Associate Patrick Berry and Legal Assistant Mateusz Partyka. Partner Sandra Wong, Associate Sonia Bains and Trainee Solicitor Andrew Woolsey also advised on the corporate elements of the deal.

Paul Hill said: “This significant funding line for Blazehill Capital reflects the fast-growing success of the business in just two short years and will support them to both continue with their five-year strategy of building a £1 billion lending book and will help them diversify their specialist funding solutions out to a wider range of markets, both nationally and internationally.

“The deal is also hugely important as it is acknowledging the tough challenges that the UK debt market is presenting to UK businesses. This deal represents that there are disruptors in the private debt funding market like Blazehill and InterVest that have confidence in the UK’s business market and are passionate in supporting in its recovery.

“The fantastic Blazehill team has clear ambitions to continue to provide secured lending for complex and diverse situations, and we are proud to continue to support them in fuelling further growth. “ 

Tom Weedall, Managing Director of Blazehill Capital commented: “The close of Fund II marks an important milestone for us, having only launched our maiden fund two years ago. This new strategic partnership with InterVest Capital Partners positions us well in continuing to support the UK’s mid-market with transformational capital, as well as working with key introducers and maintaining our strong funding partner relationships. 

“Having worked with the Browne Jacobson team on the initial set-up of the Blazehill business model two years ago, we were pleased to have them on board again to assist with Fund II. Their work on this transaction is a great example of their in-depth market knowledge and the collaborative and seamless service both the banking and corporate teams deliver. They make complex transactions much more simplified.”

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