ICFG UK / HMT advises on the debt raising for EnSilica PLC
| Target | EnSilica Plc |
| Deal Type | Debt & Equity Financing |
| Buyer | Lloyds Bank |
| Territory | UK |
| Transaction Description | EnSilica is a leading fabless chipmaker focused on custom ASIC for OEMs and system houses, as well as IC design services for companies with their own design teams. The company has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ASICs to its international customers in the automotive, industrial, healthcare and communications markets. The company also offers a broad portfolio of core IP covering cryptography, radar and communications systems. EnSilica has a track record in delivering high quality solutions to demanding industry standards. EnSilica’s impressive record of success has been achieved working with customers ranging from start-ups to blue-chip companies. Their project portfolio ranges from module design to multi-million gate System-on-Chip. The new debt facilities include a term loan, RCF and accordion facility have been agreed with Lloyds Bank Group plc, providing the company with additional flexibility to underpin ongoing working capital commitments, and ensuring that EnSilica can fully capitalise on its existing new business pipeline. The debt facilities were also used to refinance the company’s existing pre-IPO debt. HMT’s debt advisory team were appointed by EnSilica to help secure debt facilities to fund the continued growth of the business. The team ran a competitive process and approached a number of lenders and having evaluated all options Lloyds Bank Group were selected as the preferred debt provider, given the flexibility and pricing of the commercial terms they provided as well as their existing knowledge of EnSilica. Kristoff Rademan, CFO of EnSilica commented: “We are delighted to have secured a new debt financing package for the business, which strengthens our underlying finances and supports our working capital commitments going forward, and very pleased with the support provided by Neil Brown and the team from HMT in advising us on this debt package.” Neil Brown commented: “We are pleased to have advised EnSilica on the securing of a flexible debt package from Lloyds that will support the delivery of its strategic objectives.”. We look forward to working with them again in the future.” |
| Industry Sector | Technology, Media & Comms |
| ICFG Office | Henley-on-Thames |
HMT, led by Director Neil Brown and Manager Jack Waterman, with support from Partner Wendy Hart and Director Ricky Lane, advised leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits) EnSilica Plc (“EnSilica”) on their £9 million debt raise from Lloyds Bank Group.
