Bradford-based Emerald Group Holdings is eyeing further growth after agreeing a £27.5m financing package with Barclays and HSBC.
The group employs around 400 people worldwide and has diversified from its traditional business model of publishing academic journals and books after acquiring Research Media in 2013 and GoodPractice in 2015.
Thanks to the refinancing deal the group is now planning to launch news products and acquire digital businesses in the research and learning markets over the medium term. Emerald bosses added that new product launches, education initiatives and global celebrations with its customers and communities were all in the pipeline.
Simon Cox, Group Finance Director, said: “Emerald is strongly positioned to continue its 50-year growth story, despite the current political and economic turbulence. Our international diversity is a key strength and allows us to take a global perspective on risk and growth opportunities. We’re delighted to have agreed a flexible financing package with Barclays and HSBC that will support our ambitious growth plans and accelerate our acquisition programme. We need to be continually developing our offering and developing the ideas, skills and technologies that drive us to innovate and evolve.”
Founded by chairman Keith Howard Emerald celebrates its 50th birthday next year. It employs 400 people and although headquartered in the UK, generates more than 80 per cent of its revenue from overseas. It has offices 12 key international locations such as Beijing, Boston and New Delhi.
Jamie Farrell, Director from Barclays, said: “We’ve had a very successful partnership with Emerald for almost 50 years and have enjoyed being part of the group’s development. We look forward to working alongside them for a further 50 years.”
Wayne Shadlock, relationship director from HSBC, said: “HSBC has an excellent relationship with Emerald across a number of international markets. It’s a high quality business with an excellent management team and exciting growth plans. We are delighted to be part of that story going forward.”
Emerald was advised by Anna Robson and Charlotte Hall of DLA, and Barclays and HSBC were advised by Phil Scott of Pinsent Masons.