Fishawack banks on Yorkshire with refinancing deal

MEDICAL communications specialist Fishawack has refinanced with Yorkshire Bank.

The Knutsford firm, which acquired Brighton rival Facilitate last week, has agreed an undisclosed, seven-figure, funding line. It previously banked with The Co-operative Bank.

It said it will give it the funding to continue its buy and build strategy.

Yorkshire Bank has also funded the partial refinance of debt provided by private equity investor Growth Capital Partners, which supported the secondary buyout of the group in March 2013.

Fishawack provides communications services to the global pharmaceutical industry and in the last 18 months has completed a number of acquisitions in Switzerland and the US. The group employs more than 220 people worldwide, including 66 in Knutsford.

The funding was arranged by Peter Smith and Jane Hartley, directors in Yorkshire Bank’s acquisition finance team based in Manchester.

Owen Malton, head of corporate banking for Yorkshire Bank in the North West, said: “As we continue to see signs of economic recovery in the UK, we are fully committed to supporting the growth aspirations of growing businesses. Fishawack is the perfect example of an innovative and market-leading North West business which is expanding rapidly both at home and abroad.