Midlands professionals advise on set up of credit and working capital funder Blazehill Capital
A Midlands team of advisers from Browne Jacobson has advised on the corporate and funding set-up of Blazehill Capital which specialises in providing credit and working capital funding to mid-market UK businesses that encounter challenges in securing financial support from mainstream providers.
London-based Blazehill Capital which launched this week is backed by a host of high profile investors including WAFRA Capital Partners. The lender offers secured loans ranging between £5m – £30m and a broad range of flexible credit options which includes term loans, revolving facilities, short-term finance and structured debt and is looking to build a £1bn lending book in the next five years.
The Browne Jacobson team was led by Birmingham-based banking partner Paul Hill, Manchester corporate finance partner Peter Allen and Nottingham-based senior associate Sandra Wong.
Tom Weedall, managing director of Blazehill Capital, said: “The funding options available to businesses that do encounter an uphill challenge are often reduced as traditional sources of capital lose credit appetite.
“However, Blazehill Capital understands the challenges and value in stressed situations and is comfortable to help support a business through a difficult cycle, help drive recovery and fuel further growth.
“The set-up of this business model was complex and needed the dedicated support of a commercial team who could use their in-depth sector knowledge and offer clear commercial and practical advice to ensure it was launched smoothly and successfully and Browne Jacobson did just that and more.”
Hill added: “Blazehill Capital has launched just at the right time. Their offering, underpinned by flexibility and a commercial and pragmatic understanding of stressed situations, will provide some fantastic solutions which support mid-market businesses through these very uncertain times and help the market recover from the effects of the pandemic.”
“We are delighted to have been able to assist Blazehill Capital in the set-up of this key funding line.”
