K3 boosts war chest with £15m debt facility

Professional services firm K3 Capital Group has secured £15m debt facilities to fund further acquisitions and support growth plans.

The Bolton firm, which services SME clients, secured the funding through a new committed revolving credit facility of £10m with an approved but uncommitted accordion facility of up to £5m.

The facilities, provided by HSBC Bank, are committed for a three-year initial term.

Alongside the company’s existing cash reserves and strong ongoing cash generation, the facilities will be used to support the company’s growth ambitions and its declared intention to acquire complementary professional services businesses.

John Rigby, K3’s CEO, said: “To date, the Group has been supported by its shareholders and its own cash generation in delivering the Board’s vision.

“The new debt facility represents an important evolution of our capital structure, creating more flexible funding options as we consider further strategic acquisitions, in line with our ongoing growth strategy.”

K3 were advised by finnCap Debt Advisory.