Recapitalisation & Growth Capital

Pricoa provides financing to support recapitalisation

Principle Group, headquartered in Huddersfield UK, is a global provider of brand implementation services, supporting clients in achieving consistency of brand standards across physical sites. Principle serves multi-national clients across their geographic footprint in the delivery of strategic brand redesigns rollout and maintenance. Principle operates in more than 60 countries. Principle was co-founded by Executive Chairman Richard Butterfield in 1987 and has experienced strong growth as the management team have delivered on their global strategy. Revenues for 2016 are expected to reach £150 million.

Pricoa Capital Group provided a long-term funding structure to support the recapitalisation of Principle. The transaction provided shareholder liquidity to facilitate the transition of further ownership across the global management team. Following the transaction, co-founder Richard Butterfield will remain as Executive Chairman. Pricoa was attracted by Principle’s global service offering, the strength and depth of its management team and its long-term relationships with leading brand owners.

Principle’s management team valued Pricoa’s relationship approach, enabling a tailored funding structure. The patient long-term funding model and Pricoa’s follow on funding capabilities are supportive of management’s growth ambitions. Pricoa’s debt structure also accommodated Principle’s existing working capital facilities.

Principle was advised by Park Place Corporate Finance, supported by Squire Patton Boggs Leeds. Pricoa was supported by DLA Manchester.