We advised Gladman Developments ("Gladman") on its £100m refinancing with Guggenheim Investments. Based in Cheshire, Gladman is the market leader in strategic land promotion – helping land owners obtain residential planning permission and onward sale to housebuilders. Gladman was founded in 2012 by David Gladman and Jonathan Shepherd and has grown rapidly as the planning market favours those with detailed insight and understanding of the system. The business had reached a stage where it needed more capital to achieve its growth objectives, as well as enable the owners to realise some of the value they had created.
What difference did we make?
We worked with David Gladman and his team for almost two years in preparation for the transaction, meeting regularly and advising the shareholders on broader corporate matters including succession planning and incentivisation plans. We worked closely with the management team to undertake a detailed strategic options review for the business, the result of which was a decision to pursue a refinancing with a market-leading debt fund.
We prepared the business thoroughly for the transaction, including preparing a detailed forecast model and business plan documentation. We approached high quality, commercially-driven debt funds and carefully managed the messaging on the business – Gladman is a unique proposition. Our understanding of Gladman and knowledge of the debt markets enabled us to pair the business with the right long-term partner in the form of US-based Guggenheim, a fund that will support the Group’s ambitious growth plans and continual investment into its land promotion services.