Acquisitions and Middle East expansion is 2016 target after £70m refinancing

AFI GROUP has secured a £70m refinancing from asset based lender PNC Business Credit as the group looks to accelerate its growth plans in the UK and the Middle East.

The Wakefield-headquarted group, which includes powered access equipment rental and training businesses, generated £55m in sales in 2014.

Although it made a pre-tax loss of £3m, its operational profitability was much stronger - EBITDA was £19m - before the effects of acquisitions and exceptional items hit t... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...