Hawkesbridge Capital is pleased to advise that it has completed a $10m mezzanine debt investment in Perth based forest products business, Wesbeam Holdings Limited.
Wesbeam is Australia’s only Laminated Vaneer Lumber manufacturer and operates out of a state of the art custom designed facility north of Perth in Western Australia.
Hawkesbridge Capital Managing Partner, Joshua Rowe, commented that “Given the strength of Wesbeam’s management team, balance sheet and its current and forecast performance, Hawkesbridge was pleased to provide a $10m mezzanine loan enabling the company to complete on advantageous terms the refinancing of its secured loan facilities.
According to Mr Rowe, "Post GFC, the market dynamics and investment case for mezzanine lending in Australia are favourable. The withdrawal of several mezzanine lenders from the Australian market place has created opportunities for local mezzanine lenders. Accordingly, in consultation with our investors, Hawkesbridge has broadened its mandate to allow it to make mezzanine debt investments in addition to its private equity investment activities.”