LONDON (Alliance News) - Better Capital PCC Ltd Friday said the BECAP12 Fund LP has indirectly acquired Project Oliver Topco Ltd and its subsidiaries, which together trade as OfficeTeam, on a debt-free basis for GBP80.0 million from a consortium of lenders who took control following a financial restructuring in 2013.
OfficeTeam supplies office products and services in the UK. In 2013 its audited operating group revenues and pre-exceptional earnings before interest, tax, depreciation and amortisation were GBP142.0 million and GBP13.0 million.
GBP90.0 million of the fund has been committed towards the investment in order to finance its acquisition and restructuring.
Shares were Friday quoted up 0.2% at 110.75 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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