EMK's Reconomy in £70.7m refinancing
Telford-based Reconomy Holdings, owned by EMK Capital, has refinanced its existing debt structure with a ТЃ70.7m all-senior facility.
As part of the deal, the company negotiated a more flexible financing structure to provide headroom for acquisitions. The all-senior debt facility was provided by Macquarie Bank.
Previous funding
EMK, formerly Bregal Capital, acquired a majority stake in the recycling and outsourced waste services provider in July 2006.
Company
Founded in 2006 and headquartered in Telford, Reconomy provides recycling and outsourced waste services in the UK.
Reconomy saw turnover increase by 10.1% in 2017 to £122m. Its EBITDA amounted to £12.1m in the same period, an 18.6% increase on the year prior, according to the company.
People
Reconomy – John Sullivan (CFO).
Advisers
Company – DC Advisory, Jonathan Trower (financial due diligence).
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