Xpediator (AIM: XPD), a leading provider of freight management services across the UK and Central and Eastern Europe, has entered into a new £18million 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 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 operations.
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, added: “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, said: “Investec is delighted to be chosen as the banking partner for Xpediator, 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.”
Xpediator is a well-established international provider of freight management services. Established in 1988, the Group's international network of offices provides road, sea and air freight services, together with logistics and warehousing in the UK and Romania. The business offers integrated freight management within the supply chain logistics and fulfilment sector, through its three main areas: freight forwarding, logistics & warehousing and transport services. With headquarters in Braintree, Essex and country offices in nine CEE countries across 38 sites, the Group currently employs over 1,000 people and was successfully listed on London's AIM market in 2017.
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