Endless completes a January refinancing hat-trick
The Manchester office of private equity investor Endless LLP has overseen a major month of refinancing activity in January.
It revealed it has introduced flexible asset-based lending (ABL) facilities, totalling £56m, from North West-based lending teams to three Endless portfolio companies.
In one of the region’s largest ABL transactions in the past year, Blackburn-headquartered Bright Blue Foods, one of the UK’s leading cake manufacturers, has raised £40m of ABL facilities from Wells Fargo to support its new three-year growth plan.
January has also seen Close Brothers provide £8.5m of new facilities to Oldham-based aerosol manufacturer James Briggs, while leading luggage brand Antler has raised £8m from Secure Trust.
Advisory services to Endless and its portfolio companies on these transactions have been provided by a range of North West advisors, including asset valuation by SIA, debt advisory support from EY and FRP, and legal advice from Addleshaw Goddard and Squire Patton Boggs.
Mathew Deering, Endless partner, said: “Endless has always recognised the benefits of ABL financing and the flexibility it can bring to support growth in our portfolio investments.
“The North West has a really strong ABL community and we are delighted to have partnered up with Wells Fargo, Close Brothers and Secure Trust on three important Endless investments.
“We would like to thank all of our funding partners, our portfolio management teams and our advisors for their support and hard work in helping raise these market-leading funding packages.”
