Builders merchant and civil engineering specialist WT Burden secured a refinancing package with new lenders GE Capital and Lloyds Banking Group.
The £350m turnover family and employee-owned business achieved a 15% rise in sales in 2011/12 and used Manchester-based a2e Venture Catalysts to broker the financing deal.
Chief executive Jeremy Burden said: “With further growth anticipated, we wanted to choose funding partners that would understand our unique business model and provide the necessary support to us.”
Amin Amiri, managing director of a2e, said: “This was a highly successful refinancing for Burdens that will send a clear message to the market that the company is ready for the challenges of the future.”
Burdens celebrated its 80th anniversary in 2009, and is well known for its unique shareholding philosophy where all employees own share in the business. The majority of the Burden family interest is represented by a charitable foundation.
Burdens was advised by PwC, Deloitte and Hogan Lovells.