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RAISING FINANCE DEAL DIRECTORY
Accessories 4 Technology Pennine Telecom secures
receives funding £750k banking facility
This announcement appears as a matter of record only This announcement appears as a matter of record only
Legal adviser to Accessories 4 Technology: Funding provided by:
Financial adviser to the management team:
Financial adviser to Accessories 4 Technology:
Legal adviser to the funder:
GAME ON FOR ACCESSORIES 4 TECHNOLOGY PENNINE TELECOM CALLS ON £750,000 FACILITY
Video game accessories advice to A4T. Managing partner Telecoms firm Pennine Telecom, ensuring that the necessary
business Accessories 4 Paul O’Brien commented, “This whose clients include British procedures under the
Technology (A4T) has secured facility will provide the finance Nuclear Group and Blackpool Companies Act 1985 were
a £4 million funding boost that this entrepreneurial Borough Council, has secured complied with and that the
from the Royal Bank of company needs in order to £750,000 from the Royal Bank security in favour of RBS was
Scotland (RBS) to help with develop and fulfil its of Scotland (RBS) to back its properly registered at Companies
its expansion targets. undoubted potential.” future expansion plans. House accordingly.
Bolton-based A4T supplies North West law firm Farleys The Bury-based company
gaming accessories including Solicitors LLP provided legal specialises in supplying, “As we take on more work it’s
steering wheels, speakers, golf advice on all aspects of the installing and maintaining essential to have the necessary
clubs and fishing rods for deal, with the legal team being telephones, wireless networks funding in place”
gaming platforms such as the led by partner Ian Liddle who to provide internet access and
Sony PlayStation and the commented, “Farleys has been radio systems. Thompson Jones LLP, which
Nintendo Wii. fortunate enough to act for the Pennine Telecom was bought had previously advised the
Founder and managing company since its inception. by a management team led by management team on the 2003
director Andrew Shephard said, “The facility offered by Andrew Roberts in 2003 and buy-out, was engaged to assist
“As we secure an increasing RBS in a very challenging has a £6.2 million turnover. in securing Pennine’s new
number of quality licences, it marketplace is testimony Roberts said, “As we take on banking facility.
is essential to have the to the commitment and more work it’s essential to have John Stone, who led the
necessary funding structure in professionalism of the the necessary funding in place.” team providing financial
place to cover the cost of directors and staff at A4T. Corporate solicitor Shahid assistance, commented, “We
our operation.” “Farleys is proud to be Azam from Clough & Willis are extremely pleased to see
Manchester-based chartered associated with them and was instructed by RBS to Pennine’s continued success
accountant and business adviser wishes them well for their oversee the financial and are proud to be part of its
TFD Dunhams provided financial continued growth.” ■ assistance documentation, advisory team.” ■
Mergers & Acquisitions 53
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