21 May 2014 13:30
Better Capital PCC Limited 2009 Cell 21 May 2014
The board of Better Capital PCC Limited was today informed that BECAP Fund LP (the "2009 Fund") has provided further funding to BECAP Spicers (UK) Limited ("Spicers"), the holding company of Spicers Limited.
The 2009 Fund is committing a further £5.0 million to Spicers to fund continuing initiatives and the working capital requirements of the business. To meet this commitment, £2.5 million was provided to the 2009 Fund by BECAP12 GP LP. This further funding into Spicers coincides with Lloyds Bank Commercial Finance extending its facilities to 31 May 2016.
The total cost attributed to the investment in Spicers by the 2009 Fund now stands at £9.4m, having already repaid £30 million of the original investment
Enquiries:
Better Capital PCC Limited +44 (0)1481 716 000
Laurence McNairn (Administrator and Company Secretary)
Better Capital LLP +44 (0)20 7440 0840
Mark Aldridge (CEO)
Nick Sanders (Head of Portfolio)