Mike heads up our sector practice and is an independently recognised expert in asset based lending (ABL) including being recognised as a Leading Practitioner in Legal 500, with a particular focus on receivables financing structures. He regularly advises banks and independent financiers and is familiar with all the industry specific document requirements having been involved in the sector for 20 years.
Mike is familiar with the industry operational issues having undertaken a secondment to the operations team of a UK clearer and advises regularly on portfolio matters, as well as delivering sector training on behalf of the UK Finance, Secured Finance Network (formerly the Commercial Finance Association) and R3, as a recognised expert in the field. Our ABL team was shortlisted for UK Finance team of the year by Legal 500 in 2019.
Recent Experience includes:
- Acting for Investec Bank Plc on the acquisition of Amicus Commercial Finance and subsequent portfolio integration.
- Acting for PNC in relation to the turnaround financing and rescue of the Hornby Hobbies group.
- Acting for Close Brothers in relation to their provision of £100,000,000 acquisition and working capital facilities to the Ardonagh Group in connection with their £165,000,000 acquisition of Swinton Insurance.
- Advising D Bay Funds on the continuation of existing and addition of new ABL facilities for use in the acquisition, take private and refinance arrangements in connection with its acquisition of Harvey Nash Plc.
- Acting for BLME and HSBC in relation to the provision of $70,000,000 Trade Finance facilities to Wogen Resources Group. The combination of Shariah compliant and conventional facilities as part of a club lend is, we believe, unique in the market.
- Acting for BAT on restructuring its Supply Chain Finance programme for Tobacco acquisition in Africa.
- Acting for Wyelands Bank on the launch of their commercial finance business, including drafting precedents and the launch of My Muse, a FinTech receivables Financier.
- Acting for AGC on their provision of back to back ABL financing to Trade River and Gap Cap (UK ABLs).