Auction Technology Group Secures $200 Million Refinancing
Deal News | Feb 17, 2025 | Travers Smith
Travers Smith LLP has successfully advised Auction Technology Group PLC (ATG) on securing a $200 million refinancing package for its Senior Term and Revolving Credit Facilities. ATG, a key player in online auction marketplaces, benefited from this financing, arranged with a consortium of five banks, which provides a four-year term, extendable by one year. This new facility supersedes the previous arrangement slated to expire in 2026. Travers Smith's prior involvement with ATG includes advising on their 600 million Main Market IPO and the $525 million acquisition of LiveAuctioneers. Finance Partner Donald Lowe expressed satisfaction at strengthening their long-term relationship with ATG through this refinancing process. The transaction underlines lender confidence in ATG's market position and supports its strategic initiatives.
Sectors
- Financial Services
- Technology
- Legal Services
Geography
- United Kingdom – Auction Technology Group is a listed company on the Main Market in the UK, and Travers Smith is a UK-based law firm.
Industry
- Financial Services – The article discusses a refinancing deal, indicating activities in the financial services industry.
- Technology – Auction Technology Group operates in the technology sector, providing online auction marketplaces.
- Legal Services – Travers Smith, a law firm, played a crucial advisory role in the refinancing process.
Financials
- $200 million – Refinancing amount for Auction Technology Group's Senior Term and Revolving Credit Facilities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Auction Technology Group PLC | Target Company | Company | A listed operator of world-leading marketplaces for curated online auctions. |
| Travers Smith LLP | Legal Advisor | Company | A law firm providing advisory services for the refinancing. |
| Donald Lowe | Finance Partner | Person | Finance Partner at Travers Smith leading the advisory team for ATG. |
| Jody Coleman | Senior Associate | Person | Senior Associate at Travers Smith involved in the deal. |
| Arjun Dwesar | Associate | Person | Associate at Travers Smith involved in the deal. |