PMD arranges £4.1m funding for tanker group acquisition
Arranging £4.1m funding to enable Universal Tanker Group to acquire Waters Waste Services, releasing funding to acquire the business together with raising valuable ongoing working capital to enable the group to meet its growth aspirations.
For this acquisition, PMD knew their funding requirement was more than just a conventional refinance deal. We managed to arrange the whole £4.1m with just one funder who provided £1.5m of refinance, £2m of invoice discounting and £600k unsecured loan.
Simon Gunn, Managing Director of Universal Tanker Group, said: “This acquisition is the business opportunity of a lifetime, a real game-changer. It is exactly what we needed for the business and will dramatically expand the group’s national reach and presence. PMD have supported us for many years and trusted them to deliver the right funding solution and they’ve certainly delivered.”
The client was delighted with the flexibility provided, speed of delivery and competitive terms.