Monday 12th May 2008
Capula’s £6 million re-financing
A provider of automation systems that control several of the UK’s coal-fired power stations has completed a multi-million pound re-financing. Capula, which also numbers the Sellafield nuclear site among its clients, secured £6 million from Barclays in a deal arranged by private equity firm Dunedin.
The funding provides a return for Dunedin, which along with Barclays backed the £30 million buy-out at the company two years ago. It also provides Capula with working capital, according to chief executive Roger Turner.
Turner says the markets his company serves are experiencing unprecedented growth, which is set to continue. He adds: 'The re-financing has been made possible by strong cash generation and profitable growth in the business since the buy-out.'
Dunedin director John Hudson, who has a seat on Capula’s board, says the company is an excellent business with a strong management team and has grown significantly since the buy-out.
'The energy, utility and nuclear markets within which [Capula] operates are experiencing strong growth, which is set to continue,' he added. 'Despite uncertain banking conditions we received strong interest from a number of banks that were keen to lend to Capula.'
Capula was established almost 40 years ago and today employs more than 200 staff at offices in Staffordshire, Gloucester and Cumbria.
Mark Dunne
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