Kinexio

Growth investor Synova secured an ARR financing package from HSBC Innovation Bank to support an acquisition by its portfolio company Kinexio, in a deal supported by our Debt Advisory team.  

The debt funding enabled Kinexio, a global enterprise software platform for commercial property management and insight, to acquire MyTAG, a Kinexio product, a leading provider of software solutions for enhanced property security and compliance. Synova appointed our Debt Advisory team led by Partner Tom Cox, and supported by Director Umito Choji, Manager Byron Chadwick and Analyst Freddie Guy to secure a financing package to help fund the deal and provide further growth capital to accelerate NPD.

Our team managed an end-to-end process, from preparing briefing materials to managing all credit-based commercial negotiations, including pricing, covenants and documentary flexibility. The team also supported Synova and its legal counsel CMS on negotiating financing documentation with preferred funding partner, HSBC Innovation Bank.

Tom Cox, Debt Advisory Partner at FRP Corporate Finance said: “This is a great outcome for all parties. The credit package ultimately agreed with HSBC Innovation Bank provides Kinexio with a highly efficient capital structure, enabling it to make a strategic acquisition that will help accelerate its growth trajectory. It was a pleasure to work with the Synova and Kinexio teams and support the growth of this dynamic business.”

Zachary Tsai, Partner at Synova said: “The FRP team supported Synova in delivering an efficient and effective financing process, partnering with us from the initial briefing to completion in finding the right funding partner for the business. The outcome begins an exciting new chapter for Kinexio, whose expanded product portfolio will enable the business to capitalise on existing and emerging opportunities.”