Investec Growth and Acquisition Finance handed out a follow-up financing to 2M Group Limited, an existing client who owns Surfachem and Banner Chemicals. The follow-up investment will be used to finance the company's latest acquisition of INEOS ChlorVinyl.
Surfachem and Banner Chemicals are involved in the distribution of chemical products. The 2M Group Limited recently bought INEOS ChlorVinyl, which will be developing its chlorine business. According to the press release issued by Investec, the follow-up financing will be directed towards INEOS ChlorVinyl's chlorine business.
Investec's acquisition of INEOS was its third deal with 2M Group Limited. According to the company, the acquisition was its entry into the industrial gas supplying sector. INEOS currently operates in the United Kingdom and Ireland.
"We are delighted to support 2M on the INEOS Acquisition, which is our third transaction together. This deal is further evidence of Investec's continued commitment to support ambitious entrepreneurs on their acquisition growth strategies. Investec's financing for 2M blends amortizing and revolving debt and provides a framework to support its working capital, investment and acquisitions," said Investec's Tristan Nagler.
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