FRP secures £11m refinancing deal for leading cleaning business
Our Debt Advisory team has advised Easy Cleaning Solutions Ltd on a refinancing deal with Close Brothers that will enable the leading manufacturer and distributor of cleaning products to further drive its organic growth strategy and better support its blue-chip customer base.
Headquartered in Norfolk, Easy Cleaning Solutions is an innovative manufacturer of private label and own brand cleaning solutions. Its in house design and chemist team has extensive experience of chemical manufacturing to effectively develop and scale processes, helping to bring new products to the market place quickly.
Following a competitive process, Close Brothers provided a highly attractive financing structure that ensured flexibility and created additional working capital headroom to finance planned growth.
Nick Grainger, Partner in our Debt Advisory team, said: “Quality of service and, crucially, flexibility was at the forefront of Easy Cleaning Solutions’ decision regarding its preferred financing partner. This new funding provides the business with the headroom to deliver the highest quality of service and product innovation to a growing client base. It will generate additional working capital headroom and further support its planned growth strategy.”
Darren Mosley, Chief Executive Officer at Easy Cleaning Solutions, added: “Having the capital available to fund our growth strategy is a major boost for us and we are looking forward to building on our position as a leading cleaning product manufacturer. The package secured by the team at FRP gives us maximum flexibility and we are confident that with Close Brothers as our finance partner Easy Cleaning Solutions will have even greater growth potential.”
This new funding provides the business with the headroom to deliver the highest quality of service and product innovation to a growing client base. It will generate additional working capital headroom and further support its planned growth strategy.Nick Grainger Debt Advisory