Corporate finance specialists: No stone unturned.

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Our story

In simple terms we are an independent corporate finance specialist with a focus on Debt and M&A, with offices in London and Amsterdam. But our strengths go much further than that. We’re a business built on tenacity and ambition. The tenacity to challenge rigid methods and standard solutions. The ambition to offer something distinctive and better.

Drawing on extensive experience in Renewable & Flexible Energy, Economic and Social Infrastructure and Real Estate, we have the knowledge and agility to uncover opportunities others don’t see. We continuously explore smarter ways to structure transactions so they deliver greater value – whichever side of the table you’re on.

Most importantly of all, we work at the centre, not the edge, of every transaction we do, managing the process from inception to financial close. Diligent, supportive and resourceful, we’re there with you – leaving no stone unturned to get the best possible deal done, to everyone’s satisfaction.

WHAT OUR CLIENTS SAY

“Absolutely understand our sector”
“Best execution I've ever seen”
“They genuinely represent our interests”
“IDCM helped secure a new lender”
“They negotiated very competitive pricing”
“IDCM were professional and ran a thorough process”
“IDCM were great to work with”
“They added value at each stage of the process”
“IDCM were fundamental to the recent success of our first private placement”
“The strength of IDCM's relationships and understanding of the critical path requirements were key”
“Achieving our goal was in no small way attributable to IDCM's tenacity and their understanding of our business model”

What we do

In the field of finance, the old saying that there’s ‘more than one way to skin a cat’ still holds true. Sadly, that’s not the view that many in our industry take. The result is an uninspiring way of working that fails to maximise opportunities or deliver real value.

We work differently. Utilising our vast experience, we aim to find smarter ways to fund and structure deals and debt financings to your best advantage. After all, isn’t that exactly what corporate finance specialists are supposed to do?

Going above and beyond

Introducing borrowers to lenders, or buyers to sellers, is only part of the story. Success depends on bringing deals to fruition. There’s a skill to that, which is where our experience and expertise comes in. Diligent and tenacious, we closely manage every deal we do: supporting, advising, negotiating and if required finding alternative solutions to ensure that each deal closes on time and on budget – leaving no stone unturned

Debt Advisory and Execution
We give careful thought to our clients' objectives and advise on the funding possibilities specific to a client’s situation. With access to both banks and institutional investors we find the optimal funding solution. Within our debt advisory and execution business it is our extensive relationships with debt providers that differentiates us from competitors. Our typical scope of work includes:
  • Building the financial model

  • Advising on appropriate financing structure, security package and repayment profile

  • Analysing the various rating methodologies, likely outcomes and selection of rating agency counterparty. Coordinate the rating process if required

  • Advising on target lenders be it banks or institutional investors

  • Preparation of IM and term sheets

  • Negotiation of terms with potential lenders

  • Managing and coordinating borrower’s and lender’s advisors and due diligence process

  • Obtaining credit approved terms from lenders

  • Advice on implications of any existing hedging and assessment of hedging options

  • Coordinate preparation of finance documents and CP’s alongside legal advisers to allow closing and settlement


  • Amendments & Restructuring
    We regularly assist with amendments and restructuring of existing debt. The need for an amendment or restructuring may be driven by M&A activity, a reorganisation, changes in accounting or as a consequence of adverse market conditions The process may involve buy backs or a consent solicitation. In most cases, amendments can discreetly be agreed with one, or a few investors, in some cases we will need to reach out to a larger group or make a formal offer.
    Financial Modelling
    IDCM's financial modelling team offers a number of different financial modelling services:

    Bespoke Build Services:
  • Project finance / asset backed financial modelling

  • Sensitivity and scenario analysis

  • Cash flow forecasts / integrated financial statements

  • Operational forecasts / budgeting


  • Adaptation / Management Services:
  • Adaptation of an existing financial model for a new purpose or changes are required to the structure of the model

  • Being "on-hand" to run the model for updated information

  • Working with you / external contacts to use or demonstrate your models


  • Advice:
  • We combine our Financial Modelling expertise with real-world Debt and M&A market experience, leaving no stone unturned


  • Buy-side M&A
    Through our strong network and extensive sector expertise, we identify suitable off-market opportunities for financial sponsors. Our knowledge of the valuation approaches used by different bidders provides a competitive edge to our clients in competitive bidding situations. We then deliver best in class execution to maximise the probability of a successful transaction close by:
  • Developing a deal plan and timetable

  • Building the financial model and delivering comprehensive valuation papers

  • Managing and coordinating the due diligence process with each DD adviser

  • Analysing the vendor business plan and supporting the development of a bankable buy-side business plan

  • Preparation of investment committee papers

  • Negotiating the M&A documentation suite, including SPA, ECL, W&I Insurance, etc.

  • Providing bid strategy and deal tactical advice in relation to the sellers


  • Sell-side M&A
    We support sellers of assets by utilising our buyer relationships to run a competitive process that maximises value. Understanding and positioning the business case of the target is essential for maximising the proceeds to the seller and increasing market liquidity. We work closely with the seller’s management team to ensure we present a robust business plan of the existing business as well as identifying near term growth opportunities.

    For sell side mandates our typical scope of work includes:

  • Help with the hiring of the VDD advisers and coordinating the overall VDD process

  • Working with the management team and VDD advisers to prepare high quality sales materials

  • Building a financial model that reflects the sellers’ business plan and provides flexibility for the buyers’ analysis

  • During the preparatory phase of the sale process, we engage with a target group of potential buyers to communicate key messages supporting the vendor's business plan

  • During the preparatory phase of the sale process, we engage with a target group of potential buyers to communicate key messages supporting the vendor's business plan

  • During the pre-marketing phase, we reach out to a wider pool of buyers to communicate the key investment highlights and an overview of the asset to the market

  • During the competitive bidding phases, we assist potential buyers with everything they need to provide credible binding offers including coordinating the Q&A process as well as the various expert and management sessions

  • Sectors we cover

    We are pioneers in the development of both equity and debt financing solutions to the Renewable & Flexible Energy sector. As early as 2011, we structured and arranged the first ever solar bond, refinancing two UK ground mounted assets. Since then, we have worked with a large number of sponsors and developers, raising both equity and debt for different renewable & flexible energy technologies.

    • Solar PV
    • Onshore Wind
    • Biogas / Biomass
    • Energy from Waste
    • Hydro
    • Grid Balancing
    • Battery Storage
    • EV Charging

    Enpal GmbH - Solar PV & Battery Storage

    /
    Read details

    Peridot Solar - Solar PV

    / Debt
    Read details

    IDCM focuses on traditional infrastructure businesses such as ports and utilities as well as subsectors including district heating, smart meters, and telecoms & fibre networks. We see continued demand for Debt and M&A services particularly in the telecoms, digital and data services where an exponential increase in demand for such services will require significant investment.

    • Regulated Utilities
    • District Heating & Cooling Networks
    • Energy Efficiency
    • Smart Meters
    • Oil & Gas, LNG
    • Ports & Ferries
    • Rolling Stock and Rail
    • Airports
    • Infra Asset Leasing
    • Telecoms & Fibre Networks

    Equans' UK - district heating and cooling network

    / Buy-Side M&A
    Read details

    NGT - Gas Pipeline

    / Debt
    Read details

    We work tirelessly to raise funding for borrowers that are able to offer investors certainty of income and have a socially responsible investment angle. Our pragmatic and ‘can do attitude’ has seen us deliver the first long dated institutional loan and the first private placement in the listed care home REIT sector.

    • Supported Social Housing
    • Elderly Care Homes
    • Schools
    • Universities
    • NHS Trusts
    • Student Accommodation

    Impact Healthcare REIT plc - Elderly Care Homes

    / Debt
    Read details

    Target Healthcare REIT - UK Care Homes

    / Debt
    Read details

    IDCM assists a wide range of borrowers in the Real Estate sector. We focus on alternative assets where our unique added value is in our ability to structure and arrange secured and unsecured transactions, in the bank and capital markets, that suit and rely on the particular features of a borrower’s business model. In addition, we have significant experience with discreetly re-negotiating terms of existing debt documentation.

    • Primary Care Properties
    • Landed Estates
    • Hotels & Leisure
    • BTR / PRS
    • Data Centres
    • Commercial Real Estate
    • Student Accommodation

    Primary Health Properties - Primary Care Properties

    / Debt
    Read details

    Northumberland Estates - Landed Estates

    / Debt
    Read details
    • Solar PV
    • Onshore Wind
    • Biogas / Biomass
    • Energy from Waste
    • Hydro
    • Grid Balancing
    • Battery Storage
    • EV Charging
    • Regulated Utilities
    • District Heating & Cooling Networks
    • Energy Efficiency
    • Smart Meters
    • Oil & Gas, LNG
    • Ports & Ferries
    • Rolling Stock and Rail
    • Airports
    • Infra Asset Leasing
    • Telecoms & Fibre Networks
    • Supported Social Housing
    • Elderly Care Homes
    • Schools
    • Universities
    • NHS Trusts
    • Student Accommodation
    • Primary Care Properties
    • Landed Estates
    • Hotels & Leisure
    • BTR / PRS
    • Data Centres
    • Commercial Real Estate
    • Student Accommodation

    Who we work with

    Why we’re different

    We’re passionate

    With big ambitions and the highest standards.

    We’re tenacious

    Providing the best answers, not the easiest ones.

    We’re diligent

    Backing-up what we say with clear evidence and specialist expertise.

    We’re unwavering

    Supporting our clients and each other, however tough it gets.

    We’re connected

    Drawing on our extensive experience and strong networks to find better solutions.

    We’re imaginative

    Going beyond the expected to offer something fresh and interesting.

    Our team

    Stuart Bell
    Stuart Bell
    Managing Director
    +44 (0)7432 124 535 [email protected] Read biography
    Elise Huttenga
    Elise Huttenga
    Managing Director
    +31 (0)612 105 646 [email protected] Read biography
    Jean-Christophe Oberto
    Jean-Christophe Oberto
    Managing Director
    +44 (0)7961 242 830 [email protected] Read biography
    Martin Krastev
    Martin Krastev
    Head of M&A Advisory
    +44 (0)7823 526 591 [email protected] Read biography
    Xiaonan Chen
    Xiaonan Chen
    Associate Director
    +44 (0)20 3874 9975 [email protected] Read biography
    Mehdi Ghouraib
    Mehdi Ghouraib
    Associate Director
    +44 (0)7538 180 080 [email protected] Read biography
    Alan Pennell
    Alan Pennell
    Chief Financial and Operating Officer
    +44(0)7803 036 417 [email protected] Read biography

    IDCM will from time to time team up with other specialist firms including Guy Butler, who are an independent institutional credit specialist that trades fixed income securities.

    Contact us

    IDCM

    12a Upper Berkeley Street,
    Marylebone, London
    W1H 7QE

    Tel: +44 (0)20 3542 3920
    Email: [email protected]

     

    “IDCM” is the trading name of IDCM Limited, IDCM M&A Limited and IDCM Netherlands B.V.

    12a Upper Berkeley Street, Marylebone, London, England, W1H 7QE is the registered office of IDCM Limited and IDCM M&A Limited.

    IDCM Limited is incorporated and registered in England and Wales under registered number 9101952. IDCM M&A Limited is incorporated and registered in England and Wales under registered number 13630997. IDCM Netherlands B.V. is incorporated and registered in Amsterdam with Kamer van Koophandel number 86586513 and its registered offices are at Parnassusweg 15-1, 1077 DB Amsterdam, The Netherlands.

    IDCM Limited (FRN: 966828) is authorised and regulated by the Financial Conduct Authority. IDCM M&A Limited (FRN: 1015907) is an Appointed Representative of IDCM Limited. IDCM Netherlands B.V. is licensed by the Autoriteit Financiele Markten.

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