Quint news

QUINT RAISES £16.5M WITH NATWEST FOR ACQUISITIONS AND REFINANCE

Mar 5, 2019 Author - Camille Jackson Quint news

Quint Group are delighted to announce that we have secured a £16.5m financing deal from Natwest Bank.

The new revolving credit facility from Natwest, which was led by Mike Malone (Director Structured Finance) and Nioami Reddington (Director, Corporate Coverage), allows us to refinance our existing facilities with Tosca Capital as well providing access to further funding, which will allow us to drive continued growth through strategic acquisitions and continuing to invest in our core businesses.

We continue to see exceptional growth both in the UK and internationally with a particular highlight being the aggressive expansion in the US from Monevo, which has seen over 300 per cent growth over the last 12 months.

CFO Anuj Bhatnagar, who lead the process at Quint commented: Securing this facility for the Group is extremely positive giving us an even stronger financial foundation and increased resources to support to deliver our long-term goals.

Greg Cox, CEO of Quint Group, commented: “It’s a very exciting time for Quint and I’m very pleased that Natwest has supported us in this important stage of our growth. 2019 represents a huge opportunity for us to consolidate and grow our international presence and new businesses while continuing to innovate in our core markets. Having the support of a top tier one bank like Natwest gives us access to the capabilities we need to deliver on the Group’s vision and long term plan and demonstrates how far we have come as a business.

Richard Smart, Managing Director, Head of Regional Structured Finance, Natwest commented: We are delighted to have supported Quint Group on the next stage of their exciting growth journey and we are looking forward to supporting their continued UK and international expansion. This is another great example of our ability and desire to support high growth, high potential SME’s achieve their strategic growth ambitions.

Pinsent Masons Manchester office advised management as part of the deal, through a team led by Matt Morgan with Richard Oman of Addlewshaw Goddard supporting Natwest.

EY provided financial due diligence, led by Richard Harding and Paul Stott.

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