Five banks, including Société Générale, Barclays, ING and Intesa, have been mandated to arrange the staple financing backing the secondary buyout of N&W Global Vending.
N&W is being bought by private equity firms Investcorp and Barclays Private Equity, from private equity owners Merrill Lynch Global Private Equity and Argan Capital.
Originally, Merrill Lynch, Société Générale and Intesa were to do the staple financing, but in July the buyers decided on a different arrangement. They wanted to do a clubbier type of deal with five or six banks, with less to raise in syndication than would have been the case in the original arrangement, said a source familiar with the situation.
N&W is an Italian vending machine manufacturer.
