Done Deal: AFI

New Platform, New Era

 

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a portfolio company of

Pricoa Private Capital

£85,000,000

Revolving Line of Credit

Powered Access Platforms

Financing Event: Aquisition
PNC Deal Leader: Steve Buckmaster

The Company: Powered Access Leaders

AFI-Uplift Limited (AFI) is a long-standing client of PNC that has grown to become one of the UK and Middle East’s leading powered access specialists. AFI offers machine rental and sales, as well as industry-accredited training and health & safety courses.

The Deal: MBO and Acquisition

Through close team working between the management team, PNC and Pricoa Private Capital, AFI simultaneously completed a management buyout and the acquisition of West Sussex based Facelift (GB) Limited. The acquisition takes AFI’s UK rental fleet to 7,500 machines and allows AFI to substantially add scale to its existing business.

The Achievement: New Platform, New Era

PNC’s new facility for AFI’s new era provides a powerful platform for further growth, as AFI undertakes further acquisitions and extends its service offering.

We have a longstanding relationship with PNC and we are delighted to continue this. The support of PNC in providing these facilities was a key element in helping us complete the refinancing and simultaneous acquisition of Facelift.

David McNicholas | CEO, AFI Uplift

Important Legal Disclosures & Information

*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured and second lien loans for sponsored and non-sponsored transactions. 

Neither PNC Financial Services UK Ltd. nor PNC Bank Canada Branch provides legal, tax or accounting advice.

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