Safestyle in talks with parties who have expressed interest in investing in group

Safestyle UK, the retailer and manufacturer of replacement windows and doors, is in talks with a number of third parties who have expressed an interest in investing in the group.
Greg Wright
By Greg Wright
Published 3rd Oct 2023, 11:29 BST

Safestyle said that these discussions have been productive and remain ongoing.

The statement added: “In order to achieve a working capital injection, which will not be in the form of an equity placing, an alternative financing structure.. is currently being sought. Alongside the discussions with existing shareholders and other third parties, the board has had good discussions with the group's bank, who have remained supportive, regarding renegotiating terms of the RCF (revolving credit facility) in the form of a covenant waiver.”

Hide Ad
Hide Ad

Safestyle said this was yet to be formally agreed and is expected to be inter-conditional with the working capital injection.

In a statement, Safestyle UK said: "The group has been engaging with its stakeholders to discuss ways to strengthen the balance sheet in order to support its recovery and help facilitate future growth. As part of these discussions, the group has also engaged with a number of third parties who have expressed interest in investing in the group." (Photo supplied by Safestyle) These discussions with both existing shareholders and other third parties have been productive and remain ongoiIn a statement, Safestyle UK said: "The group has been engaging with its stakeholders to discuss ways to strengthen the balance sheet in order to support its recovery and help facilitate future growth. As part of these discussions, the group has also engaged with a number of third parties who have expressed interest in investing in the group." (Photo supplied by Safestyle) These discussions with both existing shareholders and other third parties have been productive and remain ongoi
In a statement, Safestyle UK said: "The group has been engaging with its stakeholders to discuss ways to strengthen the balance sheet in order to support its recovery and help facilitate future growth. As part of these discussions, the group has also engaged with a number of third parties who have expressed interest in investing in the group." (Photo supplied by Safestyle) These discussions with both existing shareholders and other third parties have been productive and remain ongoi

It added: “The board remains confident that it will secure the ongoing support required to enable the group to navigate the near-term challenges presented by what is a difficult market context. Looking further ahead, the board maintains that growth recovery prospects are strong and data of an ageing housing stock in need of repair underpins this.”

Related topics:Safestyle