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Tosca Debt Capital Backs Keysource MBO

Keysource, a U.K.-based specialist in data centres and critical environments, has completed a management buyout led by Managing Director Stephen Whatling. The transaction was backed by Manchester-based Tosca Debt Capital (TDC) and Shawbrook Bank, who provided equity finance and debt funding respectively.

Gary Davison, founding partner at Tosca Debt Capital, said: “We have been working closely with Keysource for a number of years, and recognise the enormous potential that Stephen’s vision presents for the future of the business. As a result, we’re excited to be able to support the management buyout, and I look forward to playing an active role on the board over the coming months as the business looks to take advantage of growth opportunities.”

Sarah Laverty, Director in Shawbrook’s Corporate Lending team for the North West, said: “Keysource is a strong business with plenty of opportunity for growth, both organically and via buy and build. We are delighted to have supported Stephen and his team along with Tosca Debt Capital in the MBO transaction and look forward to working together during this next phase of growth.”

As part of the transaction, Tosca Debt Capital founding partner Gary Davison will join the board of Keysource, while Warwick Ley of RooGreen Ventures will take the position of non-executive chairman.

Tosca Debt Capital's advisers on the transaction include: DLA, Grant Thornton and Dow Schofield Watts for due diligence. Shoosmiths advised Shawbrook. Terms of the deal were not disclosed.

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