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Hutton Collins refinances Windsor
Private equity firm Hutton Collins Partners has refinanced insurance broker Windsor, which was taken private by its management three years ago.
John Bennett, CEO of Windsor, calls the refinancing a 'major milestone', adding that it has enabled the Lloyds broker to repay most of the capital used to finance the take-private deal.
New senior debt for the deal was provided by Clydesdale Bank. Management retains its 78 per cent stake in the business, while Hutton Collins, which provided £15 million of preferred equity to support the 2007 buy-out, remains a shareholder.
London-based Hutton Collins provides junior debt and preferred equity to businesses seeking to expand, or whose management teams wish to acquire a greater stake in the company.
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