RBS International has provided a multi-million pound, medium term loan facility to support the acquisition of the C5 Alliance Group by BDO, Jersey.
Relationship teams across RBS International’s Corporate and Markets division in Jersey worked closely with their customer, BDO Jersey, and with the locally based offshore corporate credit function to structure the lending transaction.
The acquisition of C5 is strategic, and further enhances BDO’s extensive range of services and sees the BDO brand across the Channel Islands grow to employ over 350 people. Prior to the acquisition, C5 Alliance was already the largest provider of IT services in the Channel Islands.
Stephen Reilly, Managing Director, Corporate and Markets, RBS International, commented:
“This was a complex deal which drew upon the expertise available from our teams locally in order to provide a tailored lending facility which met our criteria and the customer’s objectives. We’re delighted to have provided a funding solution which assisted in finalising the acquisition and supports the expanding digital sector in Jersey.”
Matthew Corbin, Chief Executive Officer, BDO Group in Jersey commented:
“BDO’s acquisition of C5 is another important step in our ambition to develop a leading integrated professional services business that provides our clients with advice and support through the key areas of strategy, risk and technology. We were delighted to work closely with RBS International on this highly strategic acquisition and are delighted that they were able to support our vision for the future of professional services.”