RM Funds, the investment manager of RM Secured Direct Lending (RMDL), a listed specialist in debt solutions for businesses, has structured and made an initial investment in a bespoke five-year, GBP10 million loan note programme for Praetura Commercial Finance (PCF).
PCF is an independent asset based lender backed by Praetura Group, a Manchester based provider of alternative debt and equity solutions to UK SMEs.
Praetura Commercial Finance’s senior team combines over 80 years asset based lending experience delivering multi-asset facilities, to create innovative working capital solutions for SMEs.
RMDL has invested an initial GBP2 million in the bespoke funding but with a flexible funding line for future growth up to GBP10 million.
This is the first loan RMDL has invested in PCF, but marks its fourth transaction with a business sponsored by Praetura Group, PCF’s private equity sponsor.
Pietro Nicholls, Co-Manager, RMDL, says: “We have worked closely with Praetura Group over the years and our commitment to another of their portfolio companies reflects our high degree of confidence in the business and its management team.”
“We continue to see a great deal of opportunity to provide the strategic funding to enable businesses like PCF to expand and deliver their growth plans.”
Lisa Wood, Managing Director, PCF, adds: “Praetura Commercial Finance has grown from strength to strength, consistently exceeding its business plans and delivering value for clients and shareholders alike. The funding announced today will play a crucial role in our ability to grow our business further through an unwavering client relationship approach, increase our portfolio of loans and continue to provide transformational funding to our clients, enabling them to achieve their ambitions.”
Peadar O’Reilly, Founder, Praetura Group, says: “It’s great to have completed our fourth transaction with RM Funds within our portfolio companies. We have absolute trust in them to structure and document financing solutions that work for PCF and its business needs, which will enable the company to deliver on its ambitious growth strategy.”