London, April 05, 2023 (GLOBE NEWSWIRE) -- Gordon Brothers, the global advisory and investment firm, has supported Modus Subsea Services Limited (Modus) with a £5 million term loan.
Modus, a pioneer in the use of Underwater Intervention Drones to automate and decarbonize subsea inspection, maintenance and repair services, has used the loan for refinancing with existing lenders and to assist in developing best-in-class solutions for clients globally.
“We’re delighted to support Modus with a financing package that has provided the headroom to continue building out their market-leading development solutions,” said Nick Kitchin, Managing Director, Capital at Gordon Brothers. “Our firm has extensive knowledge of highly specialised equipment and the ability to provide value against it to offer clients a tailored liquidity solution.”
“Gordon Brothers was quick, friendly and pragmatic and partnered with our team to deliver a tailored financing solution that has been very welcome,” said Charles Tompkins, Chairman and majority shareholder of Modus.
Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.
Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations. The firm’s tailor-made solutions provide clients additional capital alongside traditional debt and equity, and its structures complement senior asset-based lending facilities and include credit and yield enhancements.
Gordon Brothers was advised by Pinsent Masons. Modus was advised by Interpath Advisory and Eversheds Sutherland.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.
About Modus Subsea Services Limited
Based in the U.K., Modus is pioneering the use of Underwater Intervention Drones to radically innovate and decarbonase subsea inspection, maintenance and repair activities. Leveraging its experience as a leading offshore contractor, it is now delivering sustainable and cost-effective solutions to Integrated Energy Companies.
