GCI Telecom Group, one of the UK’s fastest-growing corporate IT and communications providers, has secured a £22m facility with Barclays Corporate to support its acquisition strategy.
The Lincoln-based group, which has office in Westbury as a result of its 2010 acquisition of IT firm Invomo, provides phone and data services to medium-sized and small business customers across the UK.
The structured facility will allow the group to continue its acquisition and growth plans and follows on from a £10m investment from the Business Growth Fund.
Chief finance officer Mark Allen said: “We were very impressed with the attitude shown by the team at Barclays Corporate and the in-depth knowledge they have about our sector.
“Our refinancing decision came down to a combination of Barclays Corporate being able to offer us not only a competitive solution with room for growth when we required it, but also the feeling that we were being backed by a professional and knowledgeable team that we wanted to work with now and in the future.”
Barclays Corporate relationship director James Hague added: “Since working with GCI we have seen real vision within the company and our facilities were structured specifically to help them forge ahead with their growth plans. “It was also excellent news that the Business Growth Fund has recognised GCI as a strong company for significant investment.”
