Gordon Brothers, a global advisory and investment firm, supported Modus Subsea Services Limited (Modus) with a £5 million ($6.2 million) term loan.
Modus, a provider of underwater intervention drones to automate and decarbonize subsea inspection, maintenance and repair services, has used the loan for refinancing with existing lenders and to assist in developing best-in-class solutions for clients globally.
“We’re delighted to support Modus with a financing package that has provided the headroom to continue building out their market-leading development solutions,” Nick Kitchin, managing director of capital at Gordon Brothers, said. “Our firm has extensive knowledge of highly specialized equipment and the ability to provide value against it to offer clients a tailored liquidity solution.”
“Gordon Brothers was quick, friendly and pragmatic and partnered with our team to deliver a tailored financing solution that has been very welcome,” Charles Tompkins, chairman and majority shareholder of Modus, said.
Gordon Brothers was advised by Pinsent Masons. Modus was advised by Interpath Advisory and Eversheds Sutherland.
