Cheshire sustainable solutions group, RSK, has completed a strategic investment agreement, securing a £520m capital injection to support the significant growth aspirations of the group.
In June, RSK and a consortium led by Searchlight Capital Partners and Ares Management funds announced the £500m preferred equity investment.
Today’s announcement confirms completion of the investment and the details of the full consortium that, in addition to Searchlight and Ares, includes Penta Capital, a UK private equity firm with a successful track record in backing management teams and their staff to build best-in-class, high quality businesses.
BGF, a current shareholder in the group, has provided a further £20m investment, increasing the equity package to £520m.
The June announcement also advised that Ares had committed an incremental £300m debt facility to further support RSK’s growth plans, bringing the total available debt facilities provided by Ares to £1.4bn.
RSK founder and chief executive, Alan Ryder, welcomed the completion of the investment agreement and the additional investment, saying: “As we noted in June, this strategic partnership marks a pivotal moment for RSK as we take another step towards our long term vision.
“By doing the right thing and ensuring RSK is a business that people want to be part of, we believe we can become the world’s largest and most trusted provider of sustainable solutions.”
For the full story, see The Business Desk