Funding deal boosts plumbing firm’s growth plans following MBO | – The Business Desk

OakNorth Financial institution has currentd a bespoke debt finance facility to FDBC Holdings, An factor of Neil Shacklocks, Definitely one of many largest plumbing, heating and electrical contractors Inside The united kingdom.

The transaction follows an MBO in June 2020 which noticed The complete change of shares to the agency’s new house owners.

Headquartered Inside the Nottinghamshire market metropolis of Sutton-in-Ashfield and inagencyd in 1968, Neil Shacklocks undertakes set up tasks all by way of the East Midlands and South Yorkshire areas.

The agency specialises in servicing residential new construct developments, social housing refurbishments and enterprise properties, collectively with further care developments and objective-assembleed scholar lodging models.

Its shopper itemizing Consists of A pair of of The Most very important, blue-chip houseconstructers, collectively with Taylor Wimpey, McCarthy & Stone, and Barratt Homes, with earlier notable tasks furtherly collectively with Barcelona’s Olympic Village complicated, Centre Parcs’ Thetford website, the Don Valley Stadium and the Folkestone’s Channel Tunnel complicated.

Chris Hodgson, managing director of Neil Shacklocks, said: “Since Neil Shacklocks launched over 5 many years in the past, it has managed To assemble An in depth and extremely spectacular shopper e-book, serviced by a devoted and forward-considering expert group. The enterprise is regularly Making an try To reinforce its efficiency and with gross sales Inside the plumbing and heating current chain growing dramatically following the pandemic, we’re assured Neil Shacklocks Is about to thrive shifting forward. We’re grateful for the assist we acquired from the group at OakNorth Financial institution, who have been clear and entrepreneurial Inside their strategy. The funding will permit our new administration group to pursue our agency method, Which might focus closely on strengthening effectivity.”

Dale Cowdell, affiliate director of debt finance at OakNorth Financial institution, added: “I’ve acknowledged Neil Shacklocks for almost a decade and On this time, the enterprise has actually cemented itself as A pacesetter Inside the plumbing, heating and electrical providers enterprise. It hAs a Outcome of the popularity of being In all probability The biggest and largest contractors working all by way of the East Midlands and South Yorkshire since its launch over 50 years in the past. With the sector set for vital progress over The subsequent 5 years, Neil Shacklocks is in A critical place to capitalise on This alternative. We’re delighted to have been chosen As a Outcome of the agency’s funding companion to assist its progress journey and We look forward to strengthening our relationship with them Finally.”

OakNorth Financial institution was suggested on the transaction by Harrison Clark Rickerbys.

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