CORDET Capital Partners LLP - Update on Investment Activity

CORDET Capital Partners LLP - Update on Investment Activity

CORDET Capital Partners LLP (“CORDET”) is delighted to announce its fourth investment in the past 10 weeks, funding primary transactions involving companies new to CORDET, having in June finalised a growth investment for Instabox, the fast growing Swedish tech-enabled logistics business. The investment in Instabox follows swiftly on the back of another Swedish transaction, the unitranche financing provided in support of CapMan BuyOut’s acquisition of PDSVision AB, a leading industrial software solutions provider, in May.   

Also in June, CORDET completed M&A funding for Calligo Ltd, the Investcorp Technology Partners-backed managed data services provider to the mid tier enterprise segment. CORDET’s investment financed the acquisition of an Irish target, and also provided committed firepower for future bolt-ons.  

Finally, CORDET provided financing in April in support of Baird Capital backed Aura Futures Group, a leading UK technology and services provider.   

The investments were made from CORDET’s second fund, CORDET Direct Lending II SCSp, which has now completed a total of eleven transactions since its First Close in September last year.  

“The COVID-19 crisis has accelerated the retrenchment of banks from the lower mid-market,” commented Jakob Lindquist, Co-Managing Partner and founder at CORDET. “This provides increased investment opportunities for an “all-weather” direct lending investor like CORDET, benefiting from long-term committed capital, to step in and take a lead on financing.” 

Magnus Lindquist, Co-Managing Partner at CORDET commented.  “Strong, performing businesses seeking capital to drive growth and value creation need an investor that can provide structuring flexibility and react quickly to time sensitive projects.  We continue to see a strong pipeline of exciting investment opportunities from high quality, resilient companies.”

CORDET is a specialist credit manager, with 17 investment professionals focusing on senior-secured direct lending to smaller mid-market companies, typically firms with annual revenues lower than €250m and EBITDA of €2m - €15m, based mainly in the Nordics, DACH, Benelux, UK and Ireland.

For institutional investors, CORDET offers core income-focused credit investment solutions with exposure to borrowers with low structural risk through senior secured, bespoke packages. 

With local presence in its core markets through offices in Stockholm and London, as well as its proprietary industry network, CORDET benefits from deep industry understanding and on-the-ground local origination capabilities. The firm seeks to establish lasting relationships with owners, management teams and advisers.

As a signatory to the UN’s Principles for Responsible Investment (UNPRI), CORDET maintains a strong focus on ESG, which plays an integral part in every credit approval process. CORDET is in the top five percent of managers to gain, and maintain, a UNPRI A+ rating.