Knights advised Cardo Group's management team through a secondary investment, introducing new investors to support Cardo’s next phase of growth.
Delivering a complex investment structure
The transaction involved a secondary investment into Cardo Group, structured through a continuation vehicle and supported by a wider corporate and funding structure. It combined further investment from existing stakeholders with the introduction of new institutional investors.
The deal also involved the establishment of BP Inv6 TopCo Ltd and related group entities to facilitate the investment, acquisition and refinancing arrangements. This structure provided Cardo with a simplified and scalable platform for future growth, while enabling the transaction to complete within a single coordinated process.
Strengthening Cardiff’s corporate dealmaking reputation
For the region, the deal highlights the calibre of corporate and private equity work being led from Cardiff, and demonstrates the ability of the local professional services market to support complex, high-value transactions. Knights’ Cardiff team played a leading role in delivering a transaction of national significance, working alongside major national and international advisers, and reinforcing Cardiff’s position as a centre for sophisticated corporate dealmaking.
Recognition for the Knights team
Emma Borrington, Corporate Partner, said:
“I am incredibly proud of the team to achieve this recognition, which is very much deserved after all the hard work that’s been put in over the last few months.
“It’s fantastic to be working alongside such an entrepreneurial business as Cardo who continue to grow and have insatiable ambition for the future. We’re excited to continue to support and advise the Cardo team as we help them to execute on their strategy for growth.”
Cardo Group praises Knights’ support
Liam Bevan, Chief Executive of Cardo Group, said:
“Emma and the Knights team were exceptional. This was a complex, high-value transaction with multiple stakeholders and tight completion mechanics, and Emma led it with clarity, pace and sharp commercial judgement.
"The team was responsive, practical and relentlessly focused on getting the deal done. Elizabeth Hill and Edmund Anya also deserve real credit for their hard work, attention to detail and commitment throughout. Emma and her team were instrumental in delivering a successful outcome for Cardo.”
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