Marketing group secures £7m facility to help it grow

THE largest independent group of direct marketing agencies has agreed a £7m debt and working capital facility to refinance its existing borrowing and support future growth plans.

By The Newsroom

Published 11th Nov 2010, 14:35 BST

Updated 11th Nov 2010, 14:35 BST

The Direct Marketing Group is based in Shipley and includes a collection of advertising and marketing agencies, such as JDA, Millennium, DMS and Whitewater. It employs around 250 people.

Joe Widdup, finance director, said: "With the new financial structure in place, we are now able to focus on further growth plans. We intend to be pro-active in taking advantage of the opportunities the current climate presents."

Group services include planning, creative, media, research, print management and data analysis.

Banker Simon Cox, of Barclays, said: " Having a close relationship with the company's management team and having a thorough understanding of their industry and markets, has enabled us to structure a refinance solution that fits well with the company's plans."

Whitewater Barclays