Bank of Ireland supports Ricardo PLC with an increase in the RCF from £75m to £150m
Bank of Ireland’s Business Services team has provided a five year senior debt facility, as part of a four bank lending-group, to support the refinance of Ricardo’s existing facilities and provide headroom for further expansion.
Ricardo PLC is a global engineering, technical, environmental and strategic consultancy business which also manufactures and assembles niche high quality and high performance products.
Commenting on the transaction, Stuart Russell, Head of Business Services, Bank of Ireland Corporate Banking said “Bank of Ireland is delighted to have supported Ricardo with its increased facility and is looking forward to developing a strong partnership with the management team over the years to come.”
Dave Shemmans, CEO of Ricardo plc, said “Bank of Ireland have been building a great relationship with us over the last few years spending time to understand our growth and diversification strategy as well as the acquisitions we have completed. This new credit facility will enable us to proactively pursue opportunities which align with our expertise and will help us reach our ambitious growth target.”
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