£40m refinance to accelerate growth at Andrew PagePrint news article
Walker Morris has advised Endless LLP and the borrower group on the £40m refinancing with PNC of automotive parts and garage equipment supplier Andrew Page Group, as it looks to accelerate its growth plans.
The business said the deal came on the back of a successful 2014 when the now £200m-turnover group achieved major operational improvements, acquired 21 former Unipart Automotive branches, entered into a strategic collaboration with Unipart Group and also strengthened its senior management team.
The group, which is backed by private equity houses Endless and Phoenix Equity Partners, operates 114 branches across the UK and has a firmly stated aim of adding 50 sites through a combination of acquisition, new openings and franchise arrangements.
Endless and the Andrew Page Group were advised by a team of Finance lawyers from Walker Morris comprising Peter Considine and Michael Taylor.
Indra Harrison, Endless investment director and non-executive director for the group, commented:
“The refinancing tops off a really strong year for Andrew Page – the business has been on a roll with winning new customers, opening new branches and delivering a number of key operational step changes.
“We are very proud of what the business has achieved and are excited about 2015 and its continued growth and success.”