Hamilton Locke acted for Tozer & Co on the recapitalisation and restructure of foreign exchange and payments fintech, Navigate Global Payments.
Under Tozer & Co, Navigate Global Payments will be rebranded to Navinci Global Markets. The recapitalisation followed the receivership of the business and a KPMG-run process that included a management buy-in and supportive refinancing from Dinimus Capital Partners, a Melbourne-headquartered credit fund focused on local mid-market corporate opportunities. Simon Swanson, the former Chief Executive of ClearView, will become Navinci’s new chairman.
The transaction was multi-lawyered and involved complex corporate, finance and restructuring and regulatory workstreams.
Commenting on the transaction, Hamilton Locke Partner, Zina Edwards said: “Like many restructuring transactions, Navigate had many twists and turns and required us to work as a collaborative, cross-disciplinary team to structure solutions to various complex issues that arose along the way. We are absolutely delighted to have been able to successfully achieve completion and look forward to supporting Tozer & Co, and Navinci Global Markets, as the business scales under new ownership”.
The team at Hamilton Locke was led by Partners Zina Edwards, Peter Williams and Jaime Lumsden and included Jessica Smith, Special Counsel, Emil Conradie, Senior Associate, Nicholas Pavouris, Senior Associate, Grace Kaggelis, Lawyer and Eric Ng, Lawyer.
Greenmount Advisory assisted with the tax aspects of the transaction.
