Gateley Secures £80m Credit Facility for Expansion

LONDON - Gateley (Holdings) PLC (AIM: GTLY), a professional services group, has announced a new £80 million revolving credit facility with a consortium of banks to bolster its growth strategy. The facility is set to run until April 2028, with the option to extend until April 2030.

The agreement involves an equal split among Bank of Scotland, HSBC UK, Barclays, and NatWest. It replaces Gateley’s existing £30 million facility and includes an uncommitted accordion feature for an additional £20 million. The facility was coordinated by Bank of Scotland and comes with improved terms and conditions compared to the previous arrangement.

Rod Waldie, CEO of Gateley, expressed satisfaction with the new financial arrangement, highlighting the support from long-term banking partners and welcoming new partners. He emphasized that the facility would provide the necessary headroom and flexibility to continue the company’s growth through organic means and acquisitions, aiming to diversify the business further.

Gateley’s approach involves the aggregation of legal and consultancy services across four market-facing Platforms: Corporate, Business Services, People, and Property. Waldie noted that this strategy differentiates Gateley in the market, strengthens client appeal, and enhances the group’s resilience.

This financial move is positioned to support Gateley’s strategic objectives, providing a more substantial foundation for the company’s future endeavors. The information for this article is based on a press release statement.

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