Hogan Lovells advises Muzinich & Co on its first investment in Australia
Sydney, 6 July 2022 – Hogan Lovells Australia has advised global corporate credit manager Muzinich & Co on a A$26.5m debt package supporting IT systems integrator Insitec on its acquisition of tech recruiter The Network.
This funding is Muzinich’s first private debt transaction in Australia.
As reported in the Australian Financial Review, Insitec primarily services the defence industry and is searching for a significant equity partner to fund its growth ambitions.
Muzinich Private Debt has been providing flexible financing solutions to medium sized companies in Europe, US and Asia Pacific since 2014 from 10 global locations and had US$3.3bn capital to deploy in the sector as of 31 March 2022.
The Hogan Lovells Australian finance team was led by partner Bryan Paisley with support from senior associate Lisa Mazor, associates Adam Aarons and graduate Stella Xi, and with further assistance from corporate partner Charles Bogle.
Commenting on the deal, Bryan Paisley noted: “We have been delighted to assist Muzinich on this transaction and firmly believe they will make a valuable contribution to supporting private credit transactions involving lower mid-market companies in Australia through their Sydney team, reflecting their local approach to key local markets.”
Head of Asia Pacific Private Debt Andrew Tan said: “We appreciate the great work from the Hogan Lovells team on our inaugural transaction in Australia. They provided sound guidance on what was a complex deal.”
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