Blazehill Capital, a new alternative lender focusing on providing credit and critical working capital funding to mid-market UK businesses who require additional financial support which they cannot get from traditional providers, has launched.
Blazehill Capital typically provides secured lending ranging from GBP5 million to GBP30 million per transaction, delivering fast and flexible credit solutions to companies with non-standard lending requirements that are often complex and time critical. The firm’s ambition is to build a lending book of over GBP1 billion in five years.
Blazehill Capital is backed by a number of high-profile investors including major financial institution WAFRA Capital Partners, the global credit investment firm with USD5.1billion in assets under management and specialisms in asset-based finance.
The firm’s unique skillset and experience means that it can get to grips with complex situations quickly and can assess and execute deals with speed and conviction, providing a range of flexible credit options, including term loans, revolving facilities, short-term finance and structured debt. The team focuses on supporting management teams through tough trading periods, providing them with the necessary capital and financial breathing space to deliver on a turnaround plan.
Tom Weedall, Managing Director of Blazehill, says: “We have launched Blazehill Capital now because we feel there is a huge opportunity to support the UK’s mid-market in these extremely challenging times. Many businesses will have been forced to take on additional debt to survive and may require some form of restructure to allow the business to trade effectively and release funding for recovery and growth.
“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 their recovery and fuel future growth.”
The core Blazehill Capital team has over 40 years’ direct lending experience, providing over GBP1 billion of asset backed funding solutions to a range of businesses, operating in sectors including Automotive, Retail, Aerospace, Food & Beverage and Manufacturing.
The team is led by Weedall who has over 15 years’ extensive experience of structuring, managing and exiting collateral-based debt facilities. Prior to Blazehill Capital, Weedall has held various leadership roles at US asset-based lenders, including Wells Fargo and GE Capital, where he sourced and closed a number of noteworthy transactions in excess of GBP800 million.