Newable has secured a £35m senior revolving credit facility from Hampshire Trust Bank (HTB) to help with its growth plans.
The business will use the funds to centralise its debt and support its buy, grow, realise strategy.
EY capital debt & advisory and CMS advised Newable, while Macfarlanes advised HTB.
Chris Manson (pictured), CEO at Newable, said: “We are delighted to be partnering with HTB, who share our ambitions for the UK SME marketplace, which we believe has immense potential for growth.
“The team at HTB understood our business model very quickly and moved decisively to support our plans.”
Daisy Xu, transaction director at HTB, wholesale finance, said: “We are pleased to have extended our support to Newable.
“Given the calibre of their senior leadership, this new facility aligns perfectly with the profile of clients we are best positioned to support through our fund finance proposition.
“We look forward to seeing our partnership with Newable continue to develop and their well performing portfolio of SME businesses achieve their growth ambitions.”
