Protensive Limited has consolidated the latest phase of its growth plans by securing a re-financing package with Barclays.
from left to right: Martin Campbell (Barclays), Dr. Mike Jones (Protensive) Tony Edwards (RHK)
It is the world leader in Process Intensification including the Spinning Disc Reactor (SDR) technology, which is steadily being acknowledged by the chemical production industry as the way forward.
Last year Protensive successfully applied for a Regional Selective Assistance grant to help the company rapidily expand its operations at its Centre for Life laboratories in Newcastle upon Tyne and scale-up facility at Wilton on Teesside. It has since recruited several highly qualified chemists and chemical engineers, and invested in plant and equipment and patents.
The deal with Barclays has been agreed as the company looks to give itself a strong platform for further significant growth in the second half of 2005 and beyond.
Michael Jones, Managing Director of Protensive, is looking ahead to a busy period for the company. “We have developed the business incrementally over the last few years. The RSA grant, and now the deal with Barclays, mean we can position ourselves ready for significant market penetration in the coming months. Ahead of this, I was keen to align the company with a bank sensitive to our aims and objectives, and Barclays delivered in every respect.”
Protensive was assisted in its SFI application and re-financing exercise by Tony Edwards, Corporate Finance Partner at RHK. Tony commented: “The company has a very strong management team and a world-leading technology. The market is now starting to take on board the reality and benefits of SDR technology - it’s a company I’m sure the North East business community will hear a lot more of.”
Martin Campbell, Corporate Manager at Barclays’ Newcastle office, believes that Protensive has a bright future. “We were impressed by the enthusiasm and commitment of Michael and his colleagues, and the huge potential of the company’s technology. We look forward to helping the company achieve its targets in the coming years.”
Click here to take a look at our Corporate Finance deal summary.
RHK are registered by the Institute of Chartered Accountants in England and Wales to carry out company audit work. RHK Corporate Finance LLP is registered in England and Wales as a Limited Liaibility Partnership (Registered No. OC308294)
