MANCHESTER, England, April 14, 2023 /PRNewswire/ — Peninsula Group, a leading global provider of business support and consultancy services, is pleased to announce the successful refinancing of its Group revolving credit facility increasing the facility size, extending the maturity, and adding an additional bank into the club. The facility, provided by NatWest, Lloyds Bank and Barclays was increased to £175m and will be used to support the continued growth ambitions of the Group as it looks to increase its presence both in the UK and the international markets in which it operates.
Commenting on today’s announcement, Peter Done, CEO and Founder of Peninsula Group, said: “I’m incredibly proud of our continued success which the Peninsula Group has achieved over nearly 40 years. We are delighted to have the backing of such prestigious banking partners as we continue expanding across the UK, Ireland, Canada, Australia, and New Zealand. The increase in facility offers us yet further operating flexibility as we look to future growth opportunities.”
Jordan Foster, Peninsula Group CFO, said: “Having NatWest and Lloyds Bank continue their involvement in the facility whilst also bringing Barclays into the club, is a great outcome. The strength of appetite to support us from each of these major banks is testament to the continued performance and resilience of the Peninsula Group business model and the relationships we have built.”
“Looking ahead, the Peninsula Group is well positioned to continue delivering on its vision, growing within its chosen international markets, whilst maintaining our industry leading position supporting SMEs and building better businesses.”
Notes to editor
Peninsula Group is the leading provider of Employment Law, HR and Health & Safety advice and consultancy services in the UK, Ireland, Australia, New Zealand, and Canada. With more than 3,000 employees at 13 operating companies, supporting over 120,000 SMEs, the Peninsula Group provides familiar reassurance, expert knowledge, and practical solutions to keep businesses compliant. For the year ended 31st March 2022 the Group generated revenues of c. £345m with an EBITDA in excess of £97m.