Wragge & Co LLP Banking & Finance team has advised HSBC Bank plc on the £37 million secondary MBO of Accura Support Services Limited. HSBC Bank plc committed £20.5 million, alongside funding from August Private Equity LLP.

Head of banking Chris Brierley and associate Angela Boughton led the Wragge & Co team. They worked closely with Stuart Mills, head of origination and Rhys Jones, associate director from Leveraged Finance at HSBC Bank plc.

Chris Brierley said: "The leveraged market isn't dead for quality transactions. We took this deal from term sheet to closing in just eight days, through a combination of strength in depth, technical excellence and commercial pragmatism. It's one of many deals we have done with HSBC Leveraged Finance, Canary Wharf. We value our relationship with the team and its trust in us that we can deliver in a short time frame."

Stuart Mills said: "This has been another successful transaction for HSBC with both August and Wragge & Co. The delivery of the legal advice in such a short time frame gave HSBC a competitive advantage in winning this work and has further cemented our excellent relationship with Wragge & Co."

Accura Support Services Ltd is a support services provider to blue chip customers in the oil and gas, aerospace, chemical processing, motor sport and engine manufacturing sectors. Mischon de Reya advised the management team. Shoosmiths advised August Private Equity LLP. Martineau advised the vendors.

Wragge & Co is a member of HSBC's panel of preferred law firms in the UK. It has an ongoing full-service relationship with the bank, advising on a latest £11 million debt finance deal to fund the acquisition of Glazewing Limited by Valens Resources Group plc.

The firm's national banking & finance practice operates as a single team from offices in London and Birmingham. Focusing on high value, high-profile finance instructions, its specialists provide practical, commercial advice to institutional and major corporate clients. Highlight transactions include advising Lloyds TSB Bank plc on a £60 million refinancing facility for Anglia Regional Co-operative Society and advising KBC Business Capital on a £31 million refinancing deal for Burn Stewart Distillers Limited. The team also completed the first-ever public-to-private asset based lending transactions for GE Commercial Finance and Lloyds TSB Commercial Finance.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 685 2785 or Rebecca Davies on +44 (0)121 685 3819

This press release may contain information of general interest about current legal issues, but does not give legal advice.