Refinance package helps childcare specialist to expand

A nursery firm that has its headquarters in Lichfield has just agreed a large refinancing deal with HSBC.

The package provides £260m in funds, which Busy Bees is planning to use to help it to expand. The care company was established in 1983 by a group of parents in the Staffordshire city, who were frustrated at the lack of quality childcare in their area. Today, the group runs 239 nurseries across the UK and is now expanding abroad.

Simon Irons, Busy Bees Group’s chief financial officer, explained how important the new finance package is, stating:

“As an integral part of our funding team, HSBC have worked closely with Busy Bees and OTPP to ensure that we have appropriate facilities to deliver our strategic plans.”

In December, 2014, the firm bought Knowledge Universe Singapore. The deal saw it add 12 Malaysian and 48 Singaporean nurseries to its portfolio of child day-care centres.

As well as securing funds to allow it to buy up other assets, Busy Bees has gained access to the institutional global debt markets. This should further boost its ability to raise funds.

At DJB, we specialise in helping firms to use asset refinance as a way to raise money to cover temporary cash flow issues or provide capital for expansion. We also offer hire purchase and finance lease packages to help companies to manage the purchasing or hiring of machinery. Please call us to find out more about how we can help your business to grow and prosper.

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