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Advised by accountancy and business advisory firm Johnston Carmichael, and backed by Simmons Private Equity, Three60 Energy offers a variety of services to both the onshore and offshore oil and gas industries. Its global customer base spans five main areas – subsurface, wells, engineering, construction and commissioning, and operations management.
The new seven-figure funding facility will deliver working capital to support anticipated growth as well as potential future acquisitions. Picture: Jon Savage
Over a number of years, the firm has secured several significant new client wins including agreements with Spirit Energy, Repsol Sinopec, EnQuest and Neptune, as well as, most recently, a duty holder contract for DNO.
Deals of the Week, January 8 to 15 – Growth Business roundup 15 Jan 2021
Growth Business roundup of Deals of the Week, January 8 to 15, listing seed funding, venture capital and crowdfunding deals of note
£6.5m rolls in for used car management company
IT Fleet Automotive, a managing company for used car programmes of several major manufacturers in UK, has received a £6.5m facility comprising a £4.5m receivables finance line, together with an additional £2m CBILS term loan from Arbuthnot Commercial ABL.
The combined refinance package provides further liquidity for the business to manage the impact of COVID-19 and an increase in working capital to fund future growth.