Norton Rose advises CIT Capital Finance (UK) Limited in connection with the acquisition of the Oyster Marine group by private equity house Balmoral Capital

20 March 2008

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Norton Rose LLP advised CIT Capital Finance (UK) Limited as arranger of senior and mezzanine facilities made available to assist in funding the acquisition by Balmoral Capital of luxury yacht builders, Oyster Marine, from its founder Richard Matthews. The transaction closed on February 15 2008.

Michael Ings commented:

“We are delighted to be involved in this transaction which shows that banks such as CIT are able to close deals in this area of the market notwithstanding the clearly difficult market conditions”.

This is the third transaction on which the team has represented CIT in recent months.

The team was led by Michael Ings assisted by Tim Waghorn, Neha Khosla, Mark Fine and Michelle Avraham.

Balmoral Capital was advised by Latham & Watkins with Allen & Overy LLP advising the vendor.

For further information please contact:
Stuart Lennon