westbrooke yield plus provides a $10m senior debt facility to tech21, a market leader in the mobile device protection industry
8 October 2019
London (8 October 2019): Westbrooke Alternative Asset Management UK Limited (“Westbrooke”) are pleased to announce the closing of a senior debt facility (the “Facility”) to Tech 21 UK Limited (“Tech21”).
Tech21 is a leading global brand, offering protective solutions to a range of mobile devices including phones, tablets and in-ear headphones. Tech21 is the 2nd largest independent phone protection brand in the UK & USA, with a presence in c.30,000 stores in over 20 countries across the globe.
Westbrooke, via its fund, Westbrooke Yield Plus Limited, and through its co-investment partners (the “Consortium”) provided a senior debt facility to facilitate the continued growth and development of Tech21.
Richard Asherson, of Westbrooke said, “We are proud to serve as a financing partner to Jason and his team at Tech21, given their leading market position globally, longstanding relationships with blue chip customers, and exciting growth potential.”
“Westbrooke have recognised our leading edge technology and the strength of our brand in the marketplace. We look forward to working with them and welcome our new financing partners,” said Jason Roberts, founder of Tech21.
Colin Woodward, CEO of Tech21 added, “With Westbrooke’s support, we will be able to accelerate our introduction of sustainable, plant based materials for our products, grow our online presence and enter new product categories and geographic regions – making 2020 one of the most exciting years in our history.”
With a core focus on capital preservation, Westbrooke Yield Plus provides investors with exposure to a diversified portfolio of higher yielding secured debt instruments with robust security packages, significant equity cushions and clear exit strategies. The Platform provides funding to lower-middle market companies, as well as short to medium-term real estate backed transactions, investing predominantly within the UK and other developed economies.