Pinsent Masons advises Bank Trio on Johnson Service Group Loan
17 Jan 2012 | 09:55 am |
International law firm Pinsent Masons has advised Lloyds Banking Group, The Royal Bank of Scotland and Santander on a new term and revolving facility loan to Johnson Service Group PLC for £78.5 million.
The Cheshire based business operates a workwear and textile rental, dry cleaning and facilities management business. The group has continued to reduce its debt over the last year despite tough trading conditions on the high street and the new facility is expected to provide increased headroom for strategic bolt-on acquisitions. The loan comprises of a £53.5 million amortising term loan and a £25 million revolving loan, which includes an overdraft facility of £5 million.
The Pinsent Masons team was led by the Head of Financial Institutions, John Cleland assisted by Philip Scott and Tim Fearn. Commenting on the deal, John said: "We are very pleased to have advised the banks with this facility and look forward to working with them on further transactions in the coming year".
John Talbot, Executive Chairman of Johnson Service Group PLC, said: “We are delighted with the new bank facilities, which demonstrate continued support from the three banks and provide increased headroom to make strategic acquisitions for the long term benefit of the business.”
Beverley Bentley of Hill Dickinson LLP advised Johnson Service Group PLC.
Key Contacts
Latest press releases
Show me all press releasesPinsent Masons launches paralegal focused trainee programme partnership with LexisNexis
Multinational law firm Pinsent Masons has launched a paralegal Solicitor Qualifying Examination (SQE) career pathway initiative with LexisNexis as it seeks to broaden access to the legal profession.
Pinsent Masons advises Ocean Winds on exclusive offshore wind joint venture with Bord na Móna
Multinational law firm Pinsent Masons has advised leading global offshore wind energy developer Ocean Winds on a partnership with Ireland’s climate solutions company Bord na Móna to develop projects that will generate up to 2.3GW of clean and renewable electricity to power up to 2.1million homes by 2030.
Pinsent Masons wins three awards at the British Legal Awards 2022
Multinational law firm Pinsent Masons won M&A Team of the Year (medium deal), TMT Team of the Year and Litigation & Dispute Resolution Team of the Year at the British Legal Awards 2022.
People who viewed this press release also viewed
Show me all press releasesPinsent Masons launches paralegal focused trainee programme partnership with LexisNexis
Multinational law firm Pinsent Masons has launched a paralegal Solicitor Qualifying Examination (SQE) career pathway initiative with LexisNexis as it seeks to broaden access to the legal profession.
Pinsent Masons advises Ocean Winds on exclusive offshore wind joint venture with Bord na Móna
Multinational law firm Pinsent Masons has advised leading global offshore wind energy developer Ocean Winds on a partnership with Ireland’s climate solutions company Bord na Móna to develop projects that will generate up to 2.3GW of clean and renewable electricity to power up to 2.1million homes by 2030.
Pinsent Masons wins three awards at the British Legal Awards 2022
Multinational law firm Pinsent Masons won M&A Team of the Year (medium deal), TMT Team of the Year and Litigation & Dispute Resolution Team of the Year at the British Legal Awards 2022.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on
Location contacts
Europe: [email protected]
Asia: [email protected]
Middle East: [email protected]
Australia: [email protected]