New York, London, Los Angeles – 17 September 2026 – Global law firm Hogan Lovells Cadwalader has advised the senior lenders – Lloyds Bank, with a syndicate including Muzinich & Co. and OakNorth Bank – in connection with a leveraged financing in connection with a majority investment by Breakwater Management (“Breakwater”), a Los Angeles-based private equity firm, in Jones Knowles Ritchie (“JKR”), a leading independent strategic brand consultancy whose clients include AB InBev, Coca-Cola, Ford Motor, KFC, Walmart, and Yahoo!, among many other of the world’s most recognized companies. Terms of the transaction were not disclosed.
The transaction is expected to enhance JKR’s next stage of growth. Lloyds, Muzinich and OakNorth led the senior debt financing. Forge Select led the equity financing, and MB Global Partners participated in the equity financing and provided junior debt.
“This senior secured debt financing reflects the combined strength of our integrated UK/U.S. team and our ability to craft effective financing solutions,” said Banking & Loan Finance partner Matthew Schernecke. “We’re proud to help our lender clients provide the resources and support to Breakwater, Forge Select and MB Global that will help JKR reinforce its position as one of the world’s leading independent brand consultancies.”
More about the transaction can be found here.
The Hogan Lovells Cadwalader cross-border deal team was led by partner Matthew Schernecke (Banking & Loan Finance, New York), with assistance from partner Francis Booth (Banking & Loan Finance, London), senior associate Lina Braverman (Banking & Loan Finance, Los Angeles) and associates Matthew Maguire (Banking & Loan Finance, London) and Catherine Nguene (Banking & Loan Finance, London).
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