Clearwater International UK provided debt advice to Elite Group, a leading provider of unified communications, cloud and IT services, to secure a c.€33m refinancing deal with Lloyds Bank.
Founded in 2000 and based in Chorley, the business started out as a telecoms VAR (value added reseller) and has since expanded significantly into cloud, and other IT related services. Elite has completed 16 acquisitions, including the addition of Nexus Telecommunications last year, which significantly increased the group’s scale and service offering. The finance deal with Lloyds Bank will see the firm continue on the M&A trail.
Clearwater International Director Tom Barnwell and Associate Mark Ward advised Elite Group.
“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.”