• Spicers-OfficeTeam Group strengthens its balance sheet

        • Following on from signing a new group £60M ABL facility with Lloyds last week The Spicers-OfficeTeam Group (“SPOT”) have announced a further strengthening of its finances. SPOT’s private equity owner Better Capital has capitalised the interest bearing short term loans it held in the business into equity which adds to the already well-funded SPOT balance sheet.

          Andrew Mobbs, Chief Finance Officer commented “Better Capital’s capitalisation of the loans held together with the refinance announced last week demonstrates both our lender and shareholder’s commitment to the group’s strategy and creates an extremely strong balance sheet giving us the platform to grow.” 

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