NorthWall Capital Supports Eaton Gate With Growth Ambitions

The latest news from NorthWall Capital;

NorthWall Capital (“NorthWall”), a leading alternative credit specialist focused on delivering private capital solutions to performing Western European counterparties, has announced the closing of a £43.5 million first lien senior secured facility to Eaton Gate, the largest independent Managing General Underwriter (MGU) in the UK.

NorthWall’s investment will provide Eaton Gate with growth capital to bolster the company’s twin regionally based underwriting and e-trade expansion strategies across the UK, and will support the refinancing of the company’s existing debt facilities. The transaction highlights NorthWall’s ability to structure and execute flexible, reliable and scalable private credit capital solutions to high quality counterparties to facilitate their future growth.

Co-founded in 2016 by Gary Burke and Jonathan Matthews, Eaton Gate specialises in the underwriting and claims management of UK SME commercial and HNW household insurance policies. The company underwrites with fully delegated authority from its panel of A-rated global insurers, writing policies across a range of products sourced from a diverse panel of global and regional insurance brokers.

Jonathan Matthews, Group Chief Executive Officer at Eaton Gate, says: “NorthWall’s support as our financing partner will allow us to double down on delivering great underwriting outcomes for customers as the independent challenger brand of choice for brokers and our insurer partners.”

Adelbert Garcia, Senior Principal at NorthWall, says: “We are delighted to support Eaton Gate in its next phase of growth as it looks to further capitalise on its leading position in both the UK SME commercial and HNW household insurance markets. We look forward to partnering with the entire Eaton Gate team to support the company’s growth ambitions across the UK.”

Eaton Gate was advised by Macquarie Capital