October 31, 2016 | Comments (0)
UK crane, access and telehandler rental company Hewden is urgently looking to re-finance around £190 million of debt which matures over the next few months.
The company has been working with restructuring experts at Deloitte, with the idea to either refinance the business or sell it. It was acquired by private equity firm Sun European, from Finning in 2010 for £110 million.
The most recent accounts on file, to the end of 2014, indicate revenues of £105.9 million with a pre-tax loss of £16.6 million. Since then we understand that the business has improved, but so far it has not yet managed to restructure its loans.
A statement from the company said: Hewden has been impacted by market uncertaint…
Read the full article at: http://www.vertikal.net/en/news/story/26748/