
EMK's Reconomy in £70.7m refinancing
Telford-based Reconomy Holdings, owned by EMK Capital, has refinanced its existing debt structure with a £70.7m 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).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater