On 6 July 2017, Permira Debt Managers (“PDM”) announced that direct lending fund Permira Credit Solutions II (“PCS2”) and Permira Credit Solutions III (“PCS3”) acted as sole lenders in the the refinancing of WHP Telecoms (“WHP”). The deal was originated through a strong relationship with the sponsor, Palatine Private Equity and advisor, Clearwater International.
WHP is a provider of infrastructure services to the UK’s mobile telecommunications sector. Services provided by the company include site acquisition and planning, design and build, health and safety assessments, engineering and project management, as well as ongoing inspection and maintenance. Through this offering WHP is able to offer clients an end to end service throughout the life-cycle of network assets. The company has been established for over 25 years and currently employs over 400 staff.
WHP has secured a number of long-term framework agreements with the majority of mobile network operators and managed service providers, providing attractive visibility on future revenues.