Clearwater International UK advises Elite Group on c.€33m refinancing


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.

“We’ve worked closely with Lloyds Bank for over 10 years so I am pleased that 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.”

Matt Newing, CEO, Elite Group

“Working with Clearwater, Elite undertook a thorough review of the market and the various funding options. 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.”

Rob Burbidge, CFO, Elite Group

“We’re pleased to have been able to help Elite secure funding which will enable their ambitious plans for growth through acquisitions. The business had a broad range of funding options to explore, with Lloyds ultimately providing a compelling financing package.”

Tom Barnwell, Director, Clearwater International