Proco Global Group Ltd. (Proco) announced today that it has entered into an innovative, multi-jurisdictional funding solution with Aurelius Finance Company (AFC), an alternative direct lender focused on providing financial solutions to mid-market firms across Europe.
“We are really excited to receive investment from an international funder who can maximise value from our blue-chip debtor book, as well as provide ongoing flexibility to match our projected growth” said Paul Keely, CFO of Proco.
Richard Paisley, Proco CEO said: “The team at AFC took the time to understand what we required to fund our strategic plan, and to put in place a solution that will now allow us to accelerate the expansion and growth of our three market leading brands.”
Proco will use a portion of the proceeds of the investment to refinance existing credit facilities, with the remainder to be used for international expansion and working capital requirements.
Karun Dhir, Managing Director of AFC said: “We are delighted to partner with Proco, Richard and the team, and support them through this exciting phase of growth” Grant Thornton acted as financial advisor to Proco for the transaction, and Clyde & Co acted as legal advisor to Proco.