GlobalData Plc has secured a £340 million funding facility which will provide ‘M&A firepower’.
The data, analytics and insights giant split into three divisions in June as it completed a £434m private equity deal.
London-headquartered GlobalData, which provides data, expert analysis and solutions to companies in the world’s largest industries, handed over a minority 40% stake in its healthcare business to Inflexion, valuing the segment at £1.1 billion.
That saw it reorganise to operate across three customer-focused divisions – healthcare, consumer and technology.
Now the group has agreed new debt financing facilities of £340m which mature in December 2027 and contain an option to extend further by a year.
These comprise a £176.6m facility for its healthcare business and a separate £163.4m facility for the rest of the group.
The healthcare facility is made up of a £61.8m acquisition credit facility and a £114.8m revolving credit facility, with the group facility comprising a £44.2m ACF and a £119.2m RCF.
Each facility also has an additional optional uncommitted accordion facility of £98.4m (healthcare) and £96.6m (group).
“The facilities, in addition to cash on the balance sheet, give the group significant firepower to enable the continued execution of its M&A strategy,” it stated in announcing the deal to the London Stock Exchange.
“A significant pillar of our growth transformation plan is our commitment to strategic M&A, utilising our One Platform and capabilities to enhance value for our customers and shareholders,” said Mike Danson, CEO.
“I am pleased that we have secured financing facilities that give us the ability to execute against our M&A strategy and I would like to thank our new supportive lending group that have demonstrated confidence in our business model and plan.”