Done Deal: Retail & Asset Solutions Group (RAS)

Solutions Driven

 


Retail and Asset Solutions logo

£9,500,000

Revolving Line of Credit
& Term Loan

Retail Solutions Provider

Financing Event: Buy In Management Buy Out
PNC Deal Leader: Kelly Henney

Need:

PNC supported the original buyout of the business from OCS Group in 2018, backed by LDC. When LDC sought to exit following a successful four-year partnership, the management team and former Chief Portfolio Office and Deputy CEO of LDC, Chris Hurley, who joins RAS as Chairman consulted PNC about funding the Buy In Management Buy Out.

Solution:

PNC worked alongside Beechbrook Capital to complete the transaction within a sharply accelerated timeframe. The new combined debt structure sets a trajectory for RAS’ continued growth, particularly into Europe.

Results:

This transaction highlights how PNC collaborates closely with other debt and mezzanine providers to enable existing clients to continue to drive their growth and development throughout the next vital phase of ownership.

PNC got the job done. They delivered to meet an incredibly tight transaction timescale, concluding the deal in just 3 weeks from heads of terms to completion. They are a supportive funding partner and collaborated closely with all stakeholders to make the overall structure work. The flexible deal structure comprised a revolving line of credit, which has unlocked working capital for growth and a cash flow loan enabling us to drive our expansion into Europe, particularly in relation to the supply chain and Good Faith Receiving audit process.

David Wilson | Finance Director, Retail & Asset Solutions Group Ltd.

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