Proventus Capital Partners III has provided a five-year £46 million credit facility, including both a term loan and an acquisition facility, to the UK-based Synseal Extrusions. The facility will be used to refinance existing debt and to continue to fund the buy-to-build strategy.
Synseal, which manufactures extruded PVC-U window and door profiles, sealed glass units and conservatory roofs, operates from three facilities in the midlands and serves more than 700 customers. The firm has revenues in excess of £100 million and employs more than 900 staff.
David Leng, Synseal’s CEO, commented: “Proventus has delivered a flexible package that allows Synseal to accelerate our organic and acquisitive growth at an exciting time as the UK market for our products is showing real growth.”