Ireland’s The Independent newspaper has written enthusiastically about the acquisition of US-based iSend by Dublin’s Ding. Livingstone advised Ding and arranged debt facilities to support the acquisition and fund other projects.
“Mark Roden’s fast growing Ding has doubled in size, following the buyout of its US rival iSend, turning it into the biggest player in the fast growing airtime remittance space…The company will now have gross revenues of $500m following the acquisition, which gives it a foothold in the lucrative US and Mexican market. Ding was advised by UK debt specialist Livingstone Partners on the transaction.”
“When discussions arose around acquiring iSend, we explored options with private equity, debt providers and high street lenders, we were very pleased to complete the roadshow which resulted in a successful funding by an Irish bank,” [Roden] said.
Roden has previously commented that “We were really impressed by Livingstone’s team approach – rather than encouraging a standard process, they worked with us to identify the funding options which would both fit our strategy and help us to achieve it. By financing the acquisition of iSend with debt rather than pursuing a traditional private equity fundraising we have retained equity to reward and incentivise our team. I was particularly impressed with the team that worked on our process.”
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- “We were really impressed by Livingstone’s team approach – rather than encouraging a standard process, they worked with us to identify the funding options which would both fit our strategy and help us to achieve it.”Mark Roden, CEO, Ding*