Ecommerce and specialist Mail distribution services group, The Delivery Group (TDG), has secured a major refinancing package with the support of our Banking team.
The deal will support the next phase of development for TDG, which operates a national and international network of ecommerce and specialist mail services. Headquartered in Warrington, it has four sites and more than 450 employees.
As part of the £45 million refinance, Investec Bank's Direct Lending team has provided asset-based lending and cash flow senior debt facilities to support the refinancing of TDG, which is a portfolio company of Next Wave Partners.
The financing provides TDG with a flexible capital structure aligned to the growth of its SME-focused e-commerce business, while continuing to support its specialist mail distribution operations and refinancing the incumbent lender.
Our Banking team, led by Partner Helen Penfold along with Associate Zara Shafiq, acted as lead legal advisers to long-standing client TDG on the deal.
We are pleased to have supported The Delivery Group on this important refinancing, which provides the flexible capital structure needed to underpin the next stage of its growth. TDG is a long-standing and valued client, and this transaction reflects the strength of its business and the confidence in its strategic direction. We look forward to seeing the business continue to build on its strong position in the future.Helen Penfold
Banking Partner at Hill Dickinson
Michael Owen, Group CEO of The Delivery Group, said: "Investec’s extensive track record in the logistics sector enabled them to quickly understand our business model and structure a debt package that supports our working capital needs and future growth requirements."
Helen Penfold, Banking Partner at Hill Dickinson, said: “We are pleased to have supported The Delivery Group on this important refinancing, which provides the flexible capital structure needed to underpin the next stage of its growth. TDG is a long-standing and valued client, and this transaction reflects the strength of its business and the confidence in its strategic direction. We look forward to seeing the business continue to build on its strong position in the future."