TM Lewin management, backed by Bain Capital affiliate Sankaty Advisors, has acquired Caird Capital’s 20% stake in the business for an undisclosed amount. They previously owned 80% of the busienss, which is comprised of Chief Executive Geoff Quinn’s 30% stake and the rest of the management’s 50%.
TM Lewin, founded on the same street as our HQ, Jermyn Street, in 1898 has also refinanced alongside the stake acquisition, as Sankaty has provided mezzanine debt and equity for the transaction, with Lloyd’s providing senior debt. This should provide them with a more flexible capital base to support their growth. Let’s hope it’s beneficial in delivering their vision for the future and expansion internationally and online.