Chief executive Robert MacMillan said the deal, which includes a £10m rec-eivables finance facility and a £2.5m investment fund, would “vastly improve the financial state of the business”.
“The great thing is we’re going to pay down a load of debt but also it gives us the availability to explore all other options,” he said.
HH completed the deal with VSF on 30 May, within a two-month deadline set by MacMillan.
“Everyone’s saying that it’s a tough market but we had two excellent offers on the table in a short timeframe and we’re delighted it’s all come through,” said MacMillan.
VSF regional director Patrick Wilkins said: “HH is already a successful business and I’m delighted that we’ve been given the chance to assist with its progression.
“The challenge was turning the deal around within the timeframe, and our asset based lending solution was key in delivering this.”
MacMillan refused to be drawn on what plans the Surrey-based print manager had for its newfound £2.5m fighting fund. “We’ll look at all the options,” he said.
HH Print Management in 12.5m finance deal
HH Print Management has secured a 12.5m refinancing package with Venture Structured Finance (VSF), to provide "ongoing liquidity and funds for continued expansion".
