Refinancing for Elite Group

Unified communications provider Elite Group has secured a refinancing packed of £30m with Lloyds Bank. Elite was advised on the deal by Clearwater International. The refinancing comes amid speculation that the business is considering a potential sale or IPO, as exclusively reported by TMT Finance at the beginning of the year.

Sources at the time stated that Elite Group is trading at an EBITDA of £8m-£10m and could be worth £100m, should it come to market. UK-based managed service provider Chess was also rumoured to be coming to market.

Commenting on the recent refinancing, Elite Group founder Matt Newing said: “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.”

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Published on 09.08.2018
Published on 09.08.2018
Published on 09.08.2018