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Sector: e-Commerce platform

Country: UK

Investment date: December 2016

Transaction type: Recapitalisation

Instrument: Structured Unitranche

Ownership: Exponent Private Equity

Wowcher is a leading provider of online daily deals in the UK. The group has more than 10 million subscribers to whom it offers thousands of deep-discount deals per month via emails and its website.

Exponent equity funded the simultaneous acquisition of Wowcher and the UK and Ireland operations of LivingSocial in November 2015. After successfully integrating the businesses together, Exponent financed the combined group with a structured unitranche arranged by FACS.