Elite Group secures £30million refinancing package

Stephen Chapman's picture
by Stephen Chapman

Lancashire communications group, Elite, is planning acquisitions and organic growth after it secured a £30m refinancing deal with Lloyds Bank.

“We’ve worked closely with Lloyds Bank for over 10 years so I am pleased that relationship will continue. With 16 successful acquisitions under our belt already, we now have a further £30m with which to continue growing through acquisition; and as always we will also continue to grow the business through organic means too,” explained Matt Newing, Elite Group’s founder.

The Chorley-based firm employs 190 staff across Lancashire, London, Madrid and Newcastle-under-Lyne.

“In many ways it was reassuring that the best solution was offered by Lloyds Bank and it meant we were able to convert an agreed offer into a signed agreement within just two weeks,” added Rob Burbidge, Elite’s CFO.