Inspired Energy, the energy procurement consultant to corporates and SMEs, has entered into a £60m revolving facility agreement with Santander and the Bank of Ireland.
To Lancashire-based group said the facility will be used to refinance its existing indebtedness and provide additional headroom to support its growth strategy.
The facility, which runs to October 2023 with an option to extend the term for a further year, is also supplemented by a £25m accordion facility, which enables a total commitment of up to £85m.
While Santander is Inspired Energy’s incumbent debt provider, the Bank of Ireland is a new lender to the group.
Inspired Energy’s chief financial officer Paul Connor said: “The relationship with Santander has been instrumental in the growth of Inspired since 2013, and the board sincerely appreciates the continued support to the Group by Santander as we enter the next phase of growth.
“The Board welcomes Bank of Ireland as a new partner to the Group providing further validation and support to the Group’s strategy as Inspired continues to grow its market leading position within the 海角视频 and Ireland energy consultancy market.”
Santander’s Charlotte Lees said, given Inspired’s focus on ongoing growth, the bank worked with the Bank of Ireland to “significantly increase facility headroom, providing firepower for future mergers and acquisitions activity”.
Gateley Plc acted on behalf of Inspired and Addleshaw Goddard acted on behalf of Santander and Bank of Ireland.
Ground-breaking conference to bring north's political and business leaders together
A ground-breaking conference in Hull is set to bring the north's political and business leaders together to discuss the future strategy for energy and clean growth.
Taking place at the Bonus Arena in Hull, the Energy & Clean Growth in the Northern Powerhouse is a two-day conference and exhibition that will run from November 5 to 6.
Led by the NP11 - a collaboration of the eleven Northern Local Enterprise Partnerships covering 76 local authorities - the free conference will showcase the innovation, leadership and opportunities across the North of England in energy, decarbonisation, transition and clean growth.