Findel, the education resources specialist which is backed by private equity firm Endless, has secured a sustainability-linked £18m loan facility with Santander.
The business which was acquired in an MBO last Spring led by CEO Chris Mahady, will use the funding to support its medium-term growth, whilst driving its environmental, social and governance commitments (ESG). To qualify as a sustainability-linked loan, Findel has made specific annual commitments in relation to improving its carbon footprint and making its products sustainable, or signicantly more sustainable.
Findel CEO Chris Mahady said: “Being able to secure what both we and Santander UK believe to be the UK education supplies sector’s first sustainability-linked loan facility is something we are very proud of. It will ensure we further embed ESG at the heart of Findel, enable us to lead by example as a sustainable and responsible business in the markets we serve and invest in new products and services for the benefit of educators and parents alike.”
Findel operates a number of brands and websites which offer some 32,000 products to educators and parents in the UK and overseas. It has 300 employees in Hyde, Cheshire and Nottingham.
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