Vasanta Group required a high level of flexibility, in order to pursue its strategy of supporting the widest range of original vendor brands in the industry.
In order to drive the group’s strategy for organic growth, and also to capitalise on any strategic acquisition opportunities, a strong collaboration between a number of partners assisting Vasanta was required to secure successful refinancing.
ABN AMRO Commercial Finance teamed with PNC Business Credit to provide Vasanta with a £55,000,000 syndicated revolving line of credit.
The funding package was put together with a high level of speed and flexibility.
The new funding structure of the Group will result in a reduction of overall Group debt of approximately £20 million, with a corresponding material improvement in the Group’s net asset value.
The company has secured significant headroom, created for current and future sales growth. Vasanta has also seen considerable growth - in both revenues and profits.
Mathew Deering, Investment Director of Endless LLP, Vasanta’s private equity partner and principal shareholder, comments:
“We have worked closely with the Vasanta management team, as well as the deal teams including ABN AMRO Commercial Finance, to secure an excellent funding package to serve the Group’s future requirements. Our confidence in the long term prospects of the business has never been higher.”
Funding is now available for capital investment in further infrastructure improvements.