FSP advises on financial reorganisation of hospitality sector focussed Quadriga Systems group

FSP’s corporate partner, Philip Stephenson, has advised the Reading headquartered Quadriga Systems Group on its corporate financial reorganisation.

Quadriga is a leading designer of property wide connectivity and entertainment solutions for the hospitality and hotelier sectors across Europe and North America.

As part of the reorganisation, the Quadriga Group’s borrowings were restructured and some of the shares in Quadriga’s parent company, Widetek Limited, have been acquired by a U.K. based special purpose investment vehicle.  In return the special purpose investment vehicle has agreed to provide the Group with additional funding to support the Group.

Jean- Philippe Delouis, Quadriga CEO commented “After the Covid inspired trading challenges of the last year, this financial reorganisation provides the best possible platform for the Quadriga Group to secure further funding and grow again.”

On working with FSP, Paul Wilson; Quadriga CFO said “it was a pleasure working with John and Philip. Their approach was very proactive and commercial throughout – essential for this transaction. We very much look forward to working with FSP again in the near future.”