PwC supports global procurement consultancy Efficio on its £80m club refinancing

PwC is pleased to announce that it has advised Efficio, a global procurement consultancy, on an £80m club refinancing.

Efficio operates across 12 offices in Europe, North America, and the Middle East growing rapidly since its inception in 2000. Its consultants help procurement functions generate value, driven by Efficio’s proprietary eFlow platform, which connects the expertise of its people, its best practice hub and progressive technology to support clients across the procurement lifecycle.

A PwC team comprising Debt & Capital Advisory, Financial Due Diligence, Accounting and Tax structuring advice supported the business with its second transaction in the past twelve months.

The £80m refinancing was provided by HSBC UK, Siemens Bank, and M&G Investors. Proceeds from the transaction will be used to create capacity for continued investment and return value to shareholders, as well as to refinance existing facilities.

Through working with various PwC capabilities to support the transaction, Efficio was able to obtain competitive and flexible financing terms, independent review of the forecasts, alongside advice on the structuring of the individual transaction steps from an accounting and tax perspective.  

Jens Pedersen, CEO and co-founder of Efficio, commented: “This refinancing gives us the platform to deliver on the numerous exciting growth opportunities in front of us. We worked closely with PwC on this deal, who have provided us specialist support in a number of areas. After a competitive process, it is great to be working with our existing bankers HSBC, as well as Siemens Bank and M&G Investments who are joining our enlarged lending group.”  

Sajjad Hassam, Director, PwC’s Debt & Capital Advisory practice, commented: “We are very pleased to have supported Jens, Richard and the wider team at Efficio deliver this deal. Accessing greater funding, on flexible terms, has unlocked both this transaction and the opportunity for Efficio to flourish.”

PwC’s structuring advice was led by Dan Harris, and supported by Sarah Fitzgerald and Adam Kelly (corporate tax), Andrew Nealey (reward and employment) and Anjuna Prasher (accounting advisory). The financial due diligence was led by James Tubby and David Fernandes. Debt & Capital Advisory was led by Richard Siddall, supported by Sajjad Hassam, Sarah Strang and Keira Leszczynski.