Gateley lands £80m credit facility

Gateley, the professional services group, has agreed a new £80m revolving credit facility, which it says will support future growth and expansion plans.

The facility provides total committed funding of £80m until April 2028 with options to extend this to April 2030, split equally between Bank of Scotland, HSBC UK, Barclays and NatWest. The deal, which replaces the Group’s existing £30m facility, also features an uncommitted accordion option for a further £20m and was coordinated by Bank of Scotland.

Gateley says it has secured improved terms and conditions when compared to the existing £30m facility.

Rod Waldie, Gateley chief executive officer, said: “We are delighted to have agreed this new £80m facility with our long-term supportive banking partners of Bank of Scotland and HSBC UK alongside our new banking partners of Barclays and NatWest.

“The facility will provide us with additional headroom and flexibility to continue with our stated strategy to grow organically and through acquisitions, further diversifying the Group’s business.

“We continue to position ourselves to invest in and grow our platforms to provide an increasing breadth of services to our clients.

“The aggregation of complementary legal and consultancy services on our four market-facing platforms of corporate, business services, people and property continues to differentiate Gateley, strengthen our appeal to clients and enhance our resilience.”