Leading investment manager Triple Point has today announced a new £8m revolving credit facility for MLL Telecom Ltd through Triple Point’s Private Credit division.
The new facility will aid network service provider MLL Telecom’s growth strategy by providing capital to meet new and existing large-scale contracts.
The debt process was run by Gavin Harrison, a partner within Dow Schofield Watts Debt Advisory business, with Triple Point chosen as MLL’s financing partner, following a highly competitive process, ahead of a number of other very high-profile lenders.
MLL Telecom is one of the UK’s leading network integrators and providers, and designs managed network and telecommunications services to private and public sector organisations. With a long history of providing network services to public sector bodies such as UK local authorities and NHS healthcare trusts, MLL has established itself as a key partner for regional and local organisations across England, Scotland, and Wales.
This new debt facility provided by Triple Point will enable MLL Telecom to accelerate its strategic growth aspirations, while also delivering working capital support. Recently, MLL has been awarded a number of significant contracts, including a long-term deal with East Sussex County Council in late 2021, this facility will provide MLL with the resources to deliver further network and telecommunications services for private and public sector organisations.
The debt facility marks a further addition to Triple Point’s leading lending portfolio, having provided business-critical funding to more than 100,000 SMEs, as well as important public sector bodies in the UK. As non-bank lending becomes an increasingly successful model for businesses in need of financing, Triple Point’s relationship-driven partnerships and tailormade lending solutions have led to widespread recognition, including a place in MarketIQ’s Top 10 list of UK debt providers.
Dominic Reason, relationship director at Triple Point Direct Lending, said: ‘We are delighted to have provided MLL with new debt facilities to support the future growth aspirations of the business and provide working capital support. We have been really impressed with Shaun and the team and the key services that the business provides to both the public and private sectors. We adopted a flexible approach to ensure they have the right facilities in place to progress the opportunities available to them and we are very pleased to welcome MLL Telecom to Triple Point’s growing portfolio.’
Shaun Ledgerwood, CEO of MLL Telecom, commented: ‘We are very pleased to have established this new facility with Triple Point which will provide MLL Telecom with the funds to pursue our ambitious growth strategy. The capital provided will enable us to expand on our success in providing vital network services to organisations across the country and play our part in supporting both public and private sectors with our expertise. We have been impressed with Triple Point’s swift and flexible approach, and value their emphasis on personal and fruitful relationships highly.’
Gavin Harrison, partner at DSW Debt Advisory, added: ‘The impressive MLL team have built an offering that is successfully competing with, and outperforming, a blue-chip competitor base. The new revolving financing from Triple Point will provide the business with flexibility to expand on an already extensive pipeline of new business. This was a particularly rewarding transaction to be a part of, supporting MLL in matching their specific requirements to a lender that not only understood the complex nature of the business but could also offer flexibility to support the business in its immediate, as well as longer term ambitions.’
For more information, visit https://www.triplepoint.co.uk.
