A WHITEFIELD company which has achieved phenomenal growth since being launched 16 years ago is at the centre of a massive £17.5 million secondary management buy-out.
Royal Bank of Scotland (RBS) Corporate and Structured Finance team in the North West has provided a funding package to Gamma Global Holdings Ltd to support the move. The financing incorporated a £6 million credit facility and a £5.5 million invoice financial solution from RBS Commercial Services.
Gamma Global, based at Park 17 in Moss Lane, has been a customer of the RBS for more than 15 years. The same bank supported the company's management buy-out in February 2002.
The thriving Whitefield business, which has a further six offices in the UK and around the globe, is a leading independent distributor of branded IT products including HP, IBM, Sun Microsystems, Cisco, Microsoft, 3Com and APC.
Gamma's strength is its ability to source products via a worldwide network of authorised suppliers using their global logistical capability. This sourcing capability enables Gamma to offer its customers the opportunity of margin enhancement while still maintaining competitive resale prices.
Mr Martin Smith, Gamma Global managing director said: "We are delighted that The Royal Bank of Scotland has continued to support Gamma Global by providing a senior debt funding package that confirms their understanding of our business and its strategy and which will enable us to continue to expand both our vendor and customer network across the globe."
The senior debt package was arranged by RBS Corporate and Structured Finance represented by Philip Mason and Gareth Waters and Liam Salisbury of RBS Commercial Services.
Gareth Waters, director of the bank's Corporate and Structured Finance, said: "We are pleased to have been able to continue our support, providing a funding solution to suit the business in its current stage of development and we look forward to supporting them in the future."
Gamma Global was launched with three staff in 1989. Today, the company commands trading revenues in excess of 80 million euros.
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