Peritum Group has completed a major multi-million-pound refinancing with Close Brothers, restructuring its funding facilities to provide additional headroom as the business continues to expand.<\/p>\n
The Dudley-based distributor supplies specialist lifting and testing equipment for commercial vehicle fleet operators across the UK and has seen strong growth in recent years.<\/p>\n
The transaction was advised by Debrett\u2019s, which has worked with the company since 2022 to identify a funding partner capable of supporting its complex working capital cycle.<\/p>\n
Martin Poole, partner at Debrett\u2019s, said: \u201cThis new funding facility comes at the perfect time for Peritum, having grown substantially over the last three years with changes to regulations and a growth in demand for Peritum\u2019s products. The facility that Close Brothers are providing is intended to provide significant headroom, allowing the business to manage its cashflow more effectively.\u201d<\/p>\n
David Hall, managing director at Peritum said: \u201cIt has been critical for us to refinance and the support Debrett\u2019s have provided has been invaluable. They have taken the time to understand the business and its cashflow, and tailored a solution to fit accordingly. We look forward to working with Close Brothers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Funding facility provides additional headroom as the business continues to expand<\/p>\n","protected":false},"author":266702,"featured_media":2022160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262],"coauthors":[127717],"class_list":["post-2109510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-black-country","tag-featured-story"],"yoast_head":"\n