Amey, a leading provider of complex infrastructure and facilities management services to the public sector, has announced the successful completion of a major acquisition and refinancing transaction, securing a £70 million asset-based lending facility with financial partners HSBC and NatWest.
This strategic refinancing will provide robust funding through to June 2030, enabling Amey to focus on delivering enhanced performance and value to its Ministry of Defence client under its defence equipment contract, it said.
Legal oversight for the refinancing and acquisition was led by Osborne Clarke and CMS, while KPMG provided debt advisory support. Norton Rose Fulbright and Lambert Smith Hampton represented the lenders.
The transaction included the successful novation of interest rate swaps to the new lending group, with hedging strategy managed by Chatham Financial.
Andrew Nelson, Chief Finance Officer for Amey, said:
“We are very pleased to have secured this £70 million asset-based lending facility with HSBC and NatWest, a significant milestone for Amey and a strong vote of confidence in our strategy. This funding provides the headroom to deliver outstanding performance to the MOD, ensuring its equipment fleet remains mission-ready every day. It also enables decisive investment in new and upgraded assets, while sustaining world-class support across UK bases and deployed locations under the MITER contract. Our sincere thanks go to our finance partners for their exceptional collaboration and swift execution in delivering a financing solution engineered for high performance.”
