Menzies Distribution has described its new £25m credit facility with Royal Bank of Scotland (RBS) as a milestone in its aim to become the UK’s leading national logistics partner.
The new revolving credit facility runs for five years and is the first that the company has struck under the ownership of private equity firm Endless after its separation from John Menzies last year.
In addition to the credit facility, RBS is also providing operational banking services.
Paul McCourt, chief financial officer at Menzies Distribution, said: “The funding and flexibility offered by the new facilities will strengthen our position as being the partner of choice to all news and magazine publishers and provide further leverage to utilise that same capability in our diversification into retail logistics and parcel distribution.
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“We are very excited to execute our strategy with the support of RBS, our investor Endless and our great teams across the UK & Ireland,” he said.
David Amos, head of regional structured finance for Scotland at RBS, said: “We are delighted to have been chosen as Menzies Distribution’s banking partner and to have provided this new facility to help support the growth of the business.
"Menzies Distribution is a high quality business that is successfully executing a compelling growth strategy.”
