£18 million Banking Facility Agreed with Investec
Xpediator (AIM: XPD) is pleased to announce that the Company has entered into a new £18 million financing facility with Investec Bank Plc.
The transaction consolidates Xpediator’s UK banking facilities, which had become fragmented as a result of recent acquisitions. The international freight forwarding company also benefits from an improvement in the overall financing terms.
Altimapa Capital, the London based corporate finance firm that specialises in arranging finance for European mid-market companies, advised Xpediator throughout the process.
Xpediator and Altimapa are continuing to collaborate to close a pan-European facility for the group’s Central and Eastern European integrated freight management services.
Pedro Tavares, Founder and CEO of Altimapa, said, “We are delighted to be working with Xpediator and Investec in arranging this transaction. The new facility will result in significant efficiencies and leave the company well placed to continue, and accelerate its growth”.
Mike Williamson, Chief Financial Officer at Xpediator, commented, “The consolidation of our UK and Europe banking facilities is another step forward to improve and simplify Group functions and further support our existing operating businesses and strategic growth. We look forward to working with our new banking partners and thank Altimapa Capital for their professional service and support”.
Patrick Wilkins, Investec Capital Solutions, commented, “Investec is delighted to be chosen as the banking partner for Xpediator a leading supply chain logistics company, and we look forward to providing continued backing and support to this exciting and fast-growing business. We are grateful to Altimapa Capital for their assistance on this transaction which I am sure will prove to be successful for all involved”.
For more information on Xpediator’s international freight forwarder and courier services contact us on +44 (0) 330 043 2395.