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Acquisitions, LBOs, MBOs, MBIs and BEE transactions


The purchase of the shares, or the business, of an existing company as a going concern, either by an existing company, existing or incoming management, or by third party investors such as private equity funds, investment companies and BEE investors.

Expansion finance


We provide term funding for those aspects of a large expansion project that may not be catered for by asset or property finance, including acquisition and expansion finance for large franchise groups and fuel retailers.

Ownership and generational transitions


The buying out of private and institutional venture capitalists and private equity funds who wish to realise their investments and exit, and retiring shareholders or family members for succession planning purposes.

Leveraged Finance International


We have expanded our services beyond South Africa to include other African countries where FNB is represented (Namibia, Botswana, Lesotho, Swaziland, Mozambique, Zambia, Tanzania and Ghana), and Europe including the United Kingdom and Guernsey.

The main focus of these expanded offerings is to follow our clients who are expanding internationally or to extract value and optimally leverage assets that have been accumulated outside the borders of South Africa. Funding is provided in multiple currencies including local currency in each respective jurisdiction: USD, GBP and EUR.

Leveraged recapitalisations


  • The refinancing of more expensive debt (e.g. mezzanine, vendor and other junior loans) with cheaper bank debt
  • The provision of liquidity to shareholders by financing distributions to shareholders by way of dividends
  • The repayment of shareholder loans and share repurchases, and
  • The leveraging of over-capitalised/under-borrowed balance sheets to optimise their capital structure and cost of capital (WACC).

Other features and benefits


  • We have regionally focussed teams of experienced dealmakers, who are supported by specialised credit and legal teams with the necessary skills to implement complex leveraged and acquisition finance transactions tailored to the specific needs of your business.
  • We offer flexible, competitively priced medium-term debt in the form of senior term loans and preference share funding to enable you in pursue a strategic growth opportunity such as:
    • A business acquisition,
    • A leveraged-buy-out, management-buy-out or buy-in,
    • A BEE transaction,
    • Generational transition or enhanced capacity.
  • Our streamlined processes are designed to provide a quick indication of credit appetite in order to meet deadlines that are an integral part of acquisition finance transactions.
  • Complete financing packages from FNB (working capital, property and asset-based finance, guarantees and pre-settlement facilities) to support business growth and fund operational requirements.
  • Innovative and flexible deal structuring based more on the free cash flows of a business rather than collateral and balance sheet strength.

Leveraged finance regional representatives


Gauteng North

Charl van Rensburg
Tel: +27 (0)87 730 2176
Cell: +27 (0)82 335 8005
Email: CVanRensburg@fnb.co.za

Gauteng South and Central

Roger Bray
Tel: +27 (0)87 328 0402
Cell: +27 (0)79 888 2916
Email: RBray@fnb.co.za

Northern Cape, North West, Limpopo, Mpumalanga & Free State

Hendrik Nel
Tel: +27 (0)87 328 0926
Cell: +27 (0)82 374 6365
Email: Hendrik.Nel@fnb.co.za

KwaZulu-Natal

Mark Pullen
Tel: +27 (0)87 335 0680
Cell: +27 (0)82 820 6280
Email: Mark.Pullen@fnb.co.za

Western & Eastern Cape

Vincent Coetzee
Tel: +27 (0)87 335 6371
Cell: +27 (0)82 374 6272
Email: Vincent.Coetzee@fnb.co.za

Leveraged Finance International

Hendrik Nel
Tel: +27 (0)87 328 0926
Cell: +27 (0)82 374 6365
Email: Hendrik.Nel@fnb.co.za

Documents needed


  • Brief overview or profile of the business (background, ownership and management, industry, products and services, niche market(s), operations, key technologies or IP, group structure, etc).
  • Any supporting information that will assist the bank in gaining a better understanding of the business and funding requirements.
    • Company profile
    • Industry
    • Product and marketing information
    • Relevant web addresses and links
    • News clippings
    • Research reports
    • Current or past business plans
    • Budgets and forecasts
    • Management or board packs
    • Financial modelling
    • Property valuations
    • etc.
  • Financial Information

  • Annual financial statements of the company being purchased, and of the buyer if it is an existing business or investment company, for at least the last three years, and latest management accounts if three or more months of the current financial year has elapsed, including debtors and creditors age analyses. If applicable the same information should be provided for any group companies, related parties and other business interests that may be able to support the required funding.
  • Operating and capital expenditure budgets and cash flow projections to the end of the next two full financial years, including details of any changes in the expense structure (new, non-recurring or extraordinary expenses) of the business, pre- and post-transaction.
  • Breakdown of sales by major product line, customer, and those of a contractual or annuity nature (including details of contracts or agreements - nature, duration and remaining term, value, renewal terms, etc.).
  • Balance sheets of each direct and indirect shareholder of the proposed borrower and sureties post-transaction (or finan??cial statements if a company, CC or trust).
  • If not provided by FNB Business, details of existing working capital and asset finance facilities, current exposures to other financial institutions, and details of working capital requirements post-transaction (overdraft, debtor finance, trade and foreign exchange requirements, guarantees, etc.).
  • Transaction Information

  • Details of the proposed transaction and funding requirements:
    • The nature of, and circumstances giving rise to the transaction
    • The transaction price
    • The parties to the transaction (seller, buyer and shareholders of the buyer)
    • The proposed funding structure (ordinary and preference share capital and reserves, shareholder, vendor, mezzanine, bank and other medium-term loan funding) and
    • Timelines.
  • Details of new ownership, board and management structures post-transaction, highlighting measures to be taken to address any implications for management continuity of the exit or retirement of the sellers and key members of management.
  • If available, a copy of signed or draft legal agreements pertaining to the transaction being contemplated (Heads of Agreement/Memorandum of Understanding/Purchase & Sale Agreement), depending on stage of negotiation and completion.

Leveraged Finance


Increase the potential of your business

Leveraged and acquisition finance from FNB enables you to pursue strategic growth opportunities and optimise the financial structure of your business.

We provide specialised term debt tailored to the specific requirements of your business and the transaction that you are looking to finance.

What this is


Acquisitions, LBOs, MBOs, MBIs + BEE transactions

The purchase of the shares, or the business of a company or CC in its entirety

Read more

Expansion finance

Term funding of those aspects of a large expansion project that may not be catered for by asset or property finance

Read more

Ownership and generational transitions

Funding to buyout existing shareholders

Read more

Leveraged Finance International

Term funding outside South Africa

Read more

Leveraged recapitalisations

The refinancing of more expensive debt with cheaper bank debt

Read more

Other features and benefits

Features that benefit your business

Read more

Getting it made easy


Leveraged Finance

How to get it

Call me back

Other ways to apply

Contact your FNB Relationship Manager or the FNB Leveraged Finance provincial office closest to you