£37.5m refinancing deal gives Emerald Group boost for future plans
20th July 2021
Bradford-based Emerald Group secures £37.5m financing package with Barclays and HSBC UK.
Thanks to the refinancing deal, the Group is in a strong position to build for the future with plans to continue its investment in its technology infrastructure across Emerald Publishing and Emerald Works to remain abreast of the changing market demands and customer needs. Emerald Works, its corporate learning business, will also invest in its technology infrastructure whilst setting its sights on expanding its international presence in the US.
Over the past year the Group prioritised the wellbeing of its employees by seamlessly moving to a remote operating model in March 2020, whilst continuing to serve its communities by focusing on customer centricity and the flexibility of its offer to market.
The Group employs around 400 people worldwide and has diversified from its traditional business model of publishing academic journals and books, to being a progressive provider of research and learning resources.
Simon Cox, Group Finance and People Director at Emerald Group, commented: “Emerald is in a strong position, despite the effects we have felt and continue to feel from the COVID-19 pandemic. We’re delighted to have agreed a second financing package with Barclays and HSBC UK, and we see it as a vote of confidence in the robustness of our business. This package enables us to remain resilient as we navigate the economic turbulence and supports us in our ambitious growth plans to accelerate our products and services in both our academic and corporate learning markets.”
The financing package is the second deal the Group has secured in the past five years after maintaining strong relationships with both lenders.
Carl Lockett, Barclays Relationship Director, said: “Simon and his team really impressed me with their slick and efficient operations and their ambitious growth plans. The business has shown strong and consistent growth over many years and continues to invest in the future alongside playing a pivotal role in the local economy, we are thrilled to be supporting them yet again.”
Emerald Group was advised by Sarah Day and Charlotte Woodfield of DLA and Anil Gupta and Henry Pearson of Deloitte. Barclays and HSBC UK were advised by Matthew Clayton Stead and Yasmin Tivey of Pinsent Masons.
Emerald Group, founded in 1967 in based in Bingley and has a presence in 130 countries worldwide.
About the Emerald Group
Emerald is a global learning organisation, based Bingley, West Yorkshire, with a global presence in 130 countries worldwide. While its roots are in publishing, and bringing research to life, the Group’s corporate learning division provides learners with the insight and tools they need to overcome challenges, improve performance and excel in the workplace. Founded in 1967, Emerald’s core purpose for over 50 years has been to champion fresh thinkers and help them make a difference so that little by little those in academia or in practice can unite to bring positive change in the real world. www.emeraldgroup.com