latest news headlines
Rescue Deal Pulls PSL from Administration
GE Commercial Finance Ltd, a leading UK provider of business finance solutions, has announced that it has completed a deal to provide a £4 million funding package to a buy-in management buy-out team acquiring presentation equipment company, Presentation Services (Trading) Limited (PSL).
Based in Potters Bar, Herts, PSL is one of the leading presentation equipment rental and event staging companies in the UK and USA. It delivers tailor-made solutions, from a desk-top projector to a major product launch, for all types of events including conferences, road shows and exhibitions.
Led by Gary Davis, the new management team, which includes Stephen Lakin and Darren Glossop, has returned to PSL, and along with Chris Scadding is using GECF Ltd’s funding to purchase the Company’s assets and business.
Davis commented: "GECF Ltd's funding package is exactly what the new management team was looking for. No-one expected a deal like this to be implemented as quickly as it was, but GECF Ltd was outstanding in its speed and flexibility, and managed to come up with a funding package in less than seven days. With GECF's backing I now feel confident we can capitalise onthe opportunities offered in an improving market."
Tim Hawkins, director at GECF Ltd commented: "The GECF Ltd team, led by Adam Wardle, quickly saw the prospects open to PSL and worked together to provide a structured solution to a challenging proposal. With the underlying business still intact, we are confident that PSL can now be taken forward with the right management team in place."
11th October 2004
HEADLINES
news archive
search stories
FOOTNOTE: Select the news type you require in the red band above; this will enable you to see the current news stories from that section
© 1999 - 2012 Entertainment Technology Press Limited News Stories
