Thu, 04/09/2014 - 06:26
Zolfo Cooper has negotiated new debt facilities of GBP70 million for Acal plc, a supplier of specialist electronics with global operations.
The facilities have been used to part-finance the acquisition of Noratel, a designer and manufacturer of electromagnetic products based in Norway.
They will also be used to refinance various existing debt facilities and to support Acal’s future growth strategy.
The debt advisory team negotiated competitive terms for the new debt facilities, forming a club structure which included several international banks and a local Nordic lender. The financing package provides the business with a low cost, flexible financing structure and enables the business to pursue its growth strategy over the next five years.
The debt package also includes an uncommitted GBP20 million accordion facility which will provide the business with further capacity to fund growth as the business expands across Continental Europe.
Jacco Brouwer, who leads the Zolfo Cooper debt advisory team, says: “We are delighted to have been instrumental in supporting the growth of one of the UK’s most exciting advanced technology suppliers. The financial package which we negotiated was very attractive and we received substantial interest from several prospective lenders.”
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Sat, 28 Nov 2015 00:00:00 GMTS/VP Enterprise Risk - Buy Side Firm | Singapore
Sat, 28 Nov 2015 00:00:00 GMTCompliance Officer | Private Bank
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