Member Article

Technical recruiters agree £152m refinancing package

Altrincham-based NES Global Talent, the technical manpower specialist, has completed a £152m refinancing to help fuel the growth of its business and expand its global office network from 37 to more than 60 over the next four years.

The refinancing has been syndicated through more than 15 UK and US credit organisations and will allow NES to make acquisitions.

Taking place a year after the sale of NES Global Talent to AEA Investors for £234m, the deal replaces a previous £105m financing package with a club of three UK banks.

Stephen Buckley, Group Finance Director at NES Global Talent, said: “This significant refinancing will help us boost our existing operations as well as expand into new territories around the world. We are focused on sustainable, organic growth, however, this deal also provides us with the flexibility to make acquisitions, if this becomes part of our business strategy in the future.

“As well as enabling us to fund future investment and pay down acquisition debt, the refinancing has also resulted in a dividend being paid out to our staff shareholders. This is great news for our employees and a fitting reward for the hard work they have put in to our business.”

This was posted in Bdaily's Members' News section by Simon Malia .