Acquisitive telecoms firm AdEPT Telecom (LON:ADT) has sewn-up a new improved banking facility that will fuel its acquisition growth strategy.
The new £15mln revolving credit facility will be in place for five years and replaces the previous £5mln arrangement, which had 18 months to run.
The new increased debt facility will be used by the company to fund the strategic acquisition of businesses within the fragmented fixed line telecom market.
Roger Wilson, chairman of AdEPT Telecom, said:" We continue to identify earnings enhancing acquisition opportunities, and the increased scale and structure of this new debt facility will provide greater flexibility and support for future growth."
Shares in Adept closed at 175p, up 5p on the day.