Investec Provided Follow-On Financing to 2M Group

Investec Growth & Acquisition Finance said Monday it provided follow-on financing to 2M Group Ltd. 2M owns Surfachem and Banner Chemicals, which recently acquired INEOS ChlorVinyls’ packed chlorine business. Investec Growth & Acquisition Finance is part of Investec Specialist Bank, which provides finance to UK mid-market companies.

PRESS RELEASE

Investec Growth & Acquisition Finance (“Investec”) has provided follow-on financing to existing client 2M Group Limited (“2M” or “Business”), owner of chemicals distribution businesses Surfachem and Banner Chemicals, to fund its recent acquisition of INEOS ChlorVinyls’ packed chlorine business (the “INEOS Acquisition”).
 
In March 2012, Investec backed 2M’s Chairman Mottie Kessler on the buy-out of the Business from its co-founder Ieuan Thomas. This was followed in July 2012 by the acquisition of Northampton-based KMZ Chemicals, which augmented the Business’ Specialty Chemicals product offering.
 
The INEOS Acquisition is Investec’s third deal with 2M and marks the Business’ entry into the strategically important industrial gas distribution sector, servicing the UK and Irish water utilities with their chlorine needs.
 
Tristan Nagler of Investec commented:  “We are delighted to support 2M on the INEOS Acquisition, which is our third transaction together. This deal is further evidence of Investec’s continued commitment to support ambitious entrepreneurs on their acquisition growth strategies. Investec’s financing for 2M blends amortising and revolving debt and provides a framework to support its working capital, investment and acquisitions.”
 
Mottie Kessler of 2M commented: “Investec’s flexible approach to financing is highly entrepreneurial and was critical in enabling 2M to deliver the INEOS Acquisition.”