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JZI refinances Fund III portfolio company Collingwood, a niche UK motor insurance business, with a £27.5 million facility from M&G Investments

Mon 29th Apr 2019

JZ International (“JZI”) is pleased to announce the details of its latest transaction.

In April 2019, JZI refinanced Collingwood Insurance Services (UK) Ltd (“Collingwood”), a specialist motor insurance business based in Newcastle upon Tyne, UK, with a £27.5 million five-year facility from M&G Investments. Collingwood operates in niche, non-standard areas outside the mainstream motor market, including: motor fleet, taxi, learner drivers and convicted drivers.

“We are delighted to welcome M&G Investments as our financing partner for Collingwood; they have been highly supportive and demonstrated flexibility throughout the transaction,” said Martin Wright, Senior Partner at JZI.

James Pearce, Head of Direct Lending at M&G Investments says “Since the global financial crisis the lending landscape has changed and companies can now access capital from alternative lenders. In our case, we are lending to companies on behalf of our pension fund and institutional clients, who are plugging the gap left by the banks. We are pleased to partner with JZI and Collingwood Insurance Services.”

ENDS

About JZ International

JZI is a leading lower middle market pan-European private equity investor specialising principally in family/owner managed businesses looking for longer term growth capital. JZI operates from offices in London, Madrid, Utrecht and New York.

About M&G Prudential and M&G Investments

M&G Investments is part of M&G Prudential, a savings and investment business which was formed in August 2017 by our parent company, Prudential plc and has £321 billion of assets under management as at 31 December 2018.  M&G Prudential is set to demerge from Prudential Plc to become an independent company listed on the London Stock Exchange.  Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate. M&G recognises the importance of responsible investing. For more information, please visit: http://www.prudential.co.uk/businesses/mandg-prudential

JZI announces sale of Petrocorner

Mon 28th Jan 2019

JZI is pleased to announce the sale of Petrocorner, a network of petrol stations throughout Spain, to a Spanish subsidiary of British Petroleum.

Headquartered in Madrid, Petrocorner is a strategic build-up in the Spanish retail petrol station market, comprised of 65 petrol stations located across Spain with annualized sales volume of approximately 250 million liters of petrol.

JZI portfolio company Eliantus Energy secures €67 million in long-term financing from Macquarie Infrastructure Debt Investment Solutions (“MIDIS”)

Tue 11th Dec 2018

In October 2018, JZI finalized an agreement with MIDIS to refinance a portfolio of ten operational solar power plants owned by Eliantus, which in total represent 43MWp in generation capacity. The €67 million facility provided by MIDIS consists of fixed rate, senior secured bonds on a 23-year amortizing basis.

Having now optimized the leverage on this portfolio of ten plants, Eliantus intends to use the liquidity unlocked from the transaction to continue its buy-and-build strategy of acquiring solar power installations throughout Spain.