Intelligent Water has secured a \u00a33.5m finance facility from Beach Point Capital UK.<\/p>\n
The Lanarkshire-headquartered business, launched in 2021, now turns over around \u00a38m a year, serving almost 4,000 customer supply points across Scotland.<\/p>\n
The facility is one of the first investments made by Beach Point\u2019s fourth fund, which is backed by the British Business Bank and dedicated to providing growth capital to UK and Irish SMEs.<\/p>\n
The money will primarily support the additional working-capital requirements created as Intelligent Water grows its customer base, as part of a five-year growth strategy, which forecasts turnover increasing to approximately \u00a318m.<\/p>\n
Thomas McDade, director at Intelligent Water, said: \u201cThis facility gives us significant additional headroom and flexibility to accelerate our growth and pursue further opportunities as they arise.<\/p>\n
\u201cWe have built a strong platform over the last five years, and this funding gives us the financial capacity to take Intelligent Water through its next phase of growth.\u201d<\/p>\n
Seth Vaughan, vice president at Beach Point Capital, said: \u201cIntelligent Water has established a strong position in Scotland\u2019s business water market, underpinned by an experienced management team and a compelling growth strategy.<\/p>\n
\u201cWe are pleased to provide this financing facility to support the company as it continues to expand its customer base and capitalise on the opportunities available in the market.\u201d<\/p>\n
The British Business Bank has made a cornerstone commitment of up to \u00a359m to Beach Point\u2019s new fund, the BPC Europe SME DAC, as part of a \u00a365.7m first close.<\/p>\n
This follows the bank’s previous investments of \u00a320m in 2022 and \u00a330m in 2025 into Beach Point’s first dedicated UK SME lending fund, taking its total potential commitment to Beach Point to more than \u00a3100m.<\/p>\n
The new fund will offer flexible senior debt to growth-focused businesses with annual turnover of less than \u00a325m, providing loans of between \u00a3500,000 and \u00a310m to SMEs across the UK and Ireland.<\/p>\n","protected":false},"excerpt":{"rendered":"
The company has a five-year plan to more than double its annual turnover<\/p>\n","protected":false},"author":278857,"featured_media":8840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"coauthors":[137126],"class_list":["post-8839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-featured-story","tag-greater-glasgow"],"yoast_head":"\n