Galago Group (“Galago”) has successfully secured £7 million of working capital facilities from RBS IF. The re-finance will enable Galago to fuel its ambitious growth plans, which include supporting its existing businesses to reach full potential over the next few years, as well as opportunistic acquisitions.
Galago has grown rapidly from its start in 2015 and is now an innovative group of businesses, supplying a range of specialist recruitment services alongside its complex care and homecare business. Its recent acquisition of NRG saw it expand its geographical reach into the North of England and also acquire a RPO business. Galago is now able to offer its clients a full end to end recruitment solution across both temporary and permanent placements.
Keith Boyce, Galago’s Group FD, led the re-finance and said: “We are really pleased to have secured facilities that provide us with the flexibility that we will require to support our businesses at this time but also the headroom to effect our longer-term growth plans. Following on from supporting Galago on its acquisition of NRG, Castle Corporate Finance played a key role as lead adviser on this transaction, performing to the highest standard. Our thanks also go to RBS IF for their huge support in the transition and to EMW Law who assisted with a highly efficient legal completion.”
Stuart Stepney, Castle’s MD, said: “This was a great result for Galago, particularly given the tough climate in which the deal was finalised, but this is testament to the strength of the group and the quality of the teams that were working on this particular transaction.”