Barclays Corporate supports GCI Telecom Group with a £22m facility
GCI Telecom Group Limited (GCI) has secured a new £22m facility with Barclays Corporate to support their acquisition strategy.
GCI, whose Head Office is based in Lincoln, provides inbound and outbound telephony and data services to medium sized companies and smaller enterprise customers on a national basis. The structured facility will allow the company to continue its acquisition and growth plans.
In February 2012, GCI received investment of £10m from the Business Growth Fund in recognition of being one of the fastest growing corporate IT and communications providers in the UK.
Mark Allen, Chief Finance Officer, GCI Telecom Group Limited said: “We were very impressed with the attitude shown by the team at Barclays Corporate and the in-depth knowledge they have about our sector. Our refinancing decision came down to a combination of Barclays Corporate being able to offer us not only a competitive solution with room for growth when we required it, but also the feeling that we were being backed by a professional and knowledgeable team that we wanted to work with now and in the future.”
James Hague, Relationship Director, Barclays Corporate said: “Since working with GCI we have seen real vision within the company and our facilities were structured specifically to help them forge ahead with their growth plans. It was also excellent news that the Business Growth Fund has recognised GCI as a strong company for significant investment. We look forward to developing a strong relationship with our new client over the coming years and supporting them further as they continue to grow.”
About Barclays Corporate
With a clear focus on quality relationships, Barclays Corporate provides integrated banking solutions to businesses with an annual turnover of more than £5 million in the UK and large local companies, financial institutions and multinationals in non-UK markets. We facilitate the success and growth of our clients by providing lending, risk management, cash and liquidity management, trade finance and asset and sales financing. Additionally, our clients benefit from the breadth of the Barclays Group, through access to the investment banking services of Barclays Capital including debt and equity capital markets, the private wealth management expertise of Barclays Wealth, and the card and payment services of Barclaycard. Barclays Corporate employs over 10,000 people globally. For more information please visit www.barclayscorporate.com.
Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website www.barclays.com.
About GCI Telecom Company Limited
The GCI Com group was formed in 2005 with the merger of Global Communication Integrators (GCI) and Pathfinder Telecom. It has since grown through a number of acquisitions, each excelling in their own area of expertise, creating one of the fastest growing managed telecommunication providers in the UK. http://www.gcicom.net/
About Business Growth Fund
Business Growth Fund has been established to help Britain’s fast growing smaller and medium sized businesses. Growth potential is the key criteria. BGF will invest between £2m and £10m per business in return for a minimum 10 per cent equity stake and a seat on the board for a BGF director. BGF will provide long-term equity investment for those growing companies that today do not have access to this source of capital. As such BGF hopes to be a catalyst for growth among smaller UK companies.
Babel PR for Barclays Corporate
(T) 020 7434 5550