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Done Deal: Banner
Ready to Wear
a portfolio company of
MML Capital Partners
£36,750,000*
Revolving Line of Credit & Term Loan
School Uniform & Sportswear Suppliers
Financing Event: Refinance
PNC Deal Leader: Justin Edwards
The Company: Integrated Leader
Established in 1987, Banner is one of the UK’s leading school wear suppliers, employing 340 people across four main sites in Trowbridge, Runcorn, Stockport and Seaham and also in 31 retail stores.
The business has grown considerably in recent years through supply chain integration to the end customer and product range expansion. Banner is a staunch supporter of ethical trading.
The Deal: Ready to Wear
Getting the deal done in a very compressed timeframe, PNC provided a one-stop funding solution of working capital through Asset Based Lending revolving facilities, aligned with PNC’s Steel City Capital Funding term loan offering.
The Achievement: Immediate Impact
The funding supports both the seasonal nature of the business and provides the liquidity for future acquisitions. The deal speed supported Banner in completing another key acquisition just prior to Christmas, whilst meeting their ordering needs.
PNC were in tune with our requirements right from the initial meeting. They quickly grasped our business and put together a funding solution that simplified administration and gave us material headroom for future growth.
Ian Webb | Chief Finance Officer
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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