STB CF Finance Modella buys WH Smith’s UK high street business
Secure Trust Bank Commercial Finance (STB CF) has extended its £50 million asset-based lending facility for Modella Capital to acquire WH Smith’s UK High Street Operations.
The funding will support the working capital needs of the business as it embarks on a new strategic phase under Modela Capital, including rebranding the 464 High Street Stores as “TG Jones.”
Founded in 1792, WH Smith continues to operate travel stores in railway stations, airports, hospitals and international business under existing brands.
The new brand, TG Jones High Street Operation, aims to improve retail products, improve efficiency and seek growth opportunities with the support of Modella Capital and its financial partners.
The transaction reflects an increase in STB CF’s retail mergers and acquisition activities.
In January 2024, the bank also funded Unsummers for online growth. It is clear that STB CF is focusing on private equity partnerships, with 10 deals closed in six sponsors last year.
Tony Young, STB CF Regional Sales Director, said:
“This transaction demonstrates the strength of asset-based lending in enabling strategic private equity acquisitions and providing ongoing operational support, and it is great to continue to add a portfolio of retail transactions.
“We look forward to continuing our partnership with Modella Capital and the Management team as we continue to move our business forward under the TG Jones brand.”
“WH Smith’s UK High Street Business Purchase by STB CF Finances Modella” was originally created and published Lifetime leasea brand owned by GlobalData.
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