H.I.G. Capital News
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Bayside Capital Acquires NPL Portfolio from Spanish Savings Bank, Bantierra
LONDON - 23 July 2013 - Bayside Capital (“Bayside”) announced that an investment fund managed by Bayside has completed the acquisition of a non-performing loan (“NPL”) portfolio with approximately €150 million in face value from Bantierra (Nueva Caja Rural de Aragón). This is the first transaction of its kind in Spain's cooperative banking sector and the portfolio was comprised of secured and unsecured personal and SME loans.
Bayside has established a network of NPL servicers, with whom it works in partnership, in a number of European jurisdictions and has been active in the NPL space since the beginning of 2013. The transaction is yet another example of Bayside’s ability to execute transactions within a short timeframe, working closely with financial institutions aiming to dispose of non-performing and non-core assets.
Ahmed Hamdani, a Managing Director of Bayside Capital, commented: "With the successful completion of this transaction, Bayside has shown itself to be a reliable and effective partner to financial entities looking to execute transactions in a tight timeframe. We are currently in discussions with other banks on a number of loan portfolios and expect to complete additional NPL acquisitions in the coming months."
About Bayside Capital
Bayside Capital, an affiliate of H.I.G. Capital, is an investment firm with approximately $4.5 billion under management. Focused on middle-market companies, Bayside Capital invests across several segments of the primary and secondary debt capital markets with an emphasis on long-term returns. With twelve offices throughout the U.S. and Europe and over 250 investment professionals to draw upon, Bayside has the experience, resources, and flexibility to provide capital solutions quickly, and the strategic and operational expertise to help support its investments.
Bayside Capital is active across a wide spectrum of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. With the ability to invest in all parts of the capital structure, Bayside is able to develop creative financing solutions and consummate transactions on an expedited basis.
Bayside Capital is a credit affiliate of H.I.G. Capital, a leading global private investment firm with more than $13 billion of equity capital under management. Since its founding in 1993, H.I.G. Capital has invested in more than 200 companies worldwide and has developed an impressive track record for creating value for its partners and investors. For more information, please refer to the Bayside Capital website at www.bayside.com.