Financing Event: Management Buy-Out
PNC Deal Leader: Steve Buckmaster
Established in 2007, Total Rail Solutions (TRS) has grown to become a leading on-track plant hire and Plant Operations Scheme provider to the UK rail industry. TRS works closely with Network Rail and its principal contractors and has supported some of the most prestigious Network Rail, Crossrail and London Underground projects across the country.
The management buy-out backed by Rutland Partners LLP consolidates PNC’s 10 years of experience & funding in the sector.
The facility, which incorporates PNC’s Junior Secured Fund, Steel City Capital Funding, supported the buy-out and provides liquidity to fuel the working capital and growth of the company. This comes at a perfect time, with the business set to capitalise on its recent, significant investment in new equipment.
This is our fifth transaction with PNC and the second active one involving Steel City. As ever, they have provided a great product and delivered their trademark responsiveness and proactivity throughout the deal process.
Tristan Craddock | Partner, Rutland Partners
*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured and second lien loans for sponsored and non-sponsored transactions.
Neither PNC Financial Services UK Ltd. nor PNC Bank Canada Branch provides legal, tax or accounting advice.
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.
©2023 The PNC Financial Services Group, Inc. All Rights Reserved.