£105m refinance package supports future growth
Security may be required and product fees may apply.
A recruitment company that specialises in technical services. Founded in 1970, Fircroft started out providing workers to North Sea oil and gas companies. Nowadays, its sectors include energy, mining and minerals, engineering, automotive and IT.
What did they want to achieve?
Fircroft wanted to support its organic global growth and expand into the Far East. It also wanted to explore the possibility of targeted acquistions and joint venture investments.
How we helped
Our banking and asset based lending teams structured a £105m finance deal over a four-year period. This was made up of an £80m receivables finance facility and a £25m senior debt facility.
This refinancing provides us with a flexible facility to fund investment and expansion. The asset based lending and banking teams have the global capabilities and expertise to match that of Fircroft.
Stuart Hall, Chief Financial Officer of Fircroft
Fircroft has enjoyed impressive growth and established a strong reputation. The funding will support their global growth aspirations and we look forward to working closely with them.
Andy Pickford, asset based lending team