Limerston Capital

Cavendish is delighted to have advised Limerston Capital and its two portfolio companies, Forensic Access Limited and TAG International, in raising new debt facilities from Kartesia and ThinCats respectively.

Forensic Access is one of the UK’s top providers of analytical services to the legal, policing, and clinical sectors, specialises in toxicology, forensic services, and digital and cyber investigations. Whilst TAG International is a leading international development specialist, supporting governments around the world create national security strategies.

The two businesses had previously been part of the same group albeit operating individually with their own respective Management teams. The new debt facilities have supported the separation of the two companies by refinancing existing indebtedness as well as supporting Forensic Access’ bolt-on acquisition of Forensic Testing Service.

Alistair Hay, Head of Debt Advisory at Cavendish, commented on the deal saying:

“This transaction is a testament to the remarkable collaboration and determination of all the involved teams. Despite the complexities that the transaction posed, the complimentary skill sets provided by Limerston and both Management teams have resulted in each of the businesses now having a solid platform to execute their strategies. We were highly impressed with the tenacity of Kartesia and ThinCats who quickly understood the nuances of the businesses and worked with all parties to deliver a fantastic outcome. We are excited to have been part of this transformative journey and look forward to watching both businesses grow in the future.