Ardonagh reveals £900m capital raise
CEO David Ross says increased firepower will fund acquisitions in the UK as well as the consolidator's international expansion.
Ardonagh has announced a £900m capital raise to fund acquisitions both in the UK and internationally.
The business stated that its existing shareholders have subscribed for £350m of additional equity combined with a £550m additional committed Capex, Acquisition and Re-organisation Facility backed by existing lenders.
It added that this combined funding will enable it to continue making acquisitions and investments “at pace” both in the UK and internationally.
The business has also reported
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