Aurum gets funding in place for expansion plans

Revolving credit facilities to help new owner Apollo grow chain.

Barclays bank has provided Aurum with revolving credit facilities to fund expansion plans at the watch and jewellery retail group following its acquisition by private equity group Apollo.

While no specific details have been released about the "ambitious growth plans", Ian Tetsill, who works on the Midlands Debt Finance Team at Barclays, said that an innovative debt structure that will help Apollo to grown the Aurum business, which includes Mappin & Webb, Goldsmiths and Watches of Switzerland.

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Aurum chief executive Justin Stead said: “Our new banking facilities will provide a long-term, flexible solution designed to match and fund our expansion plans during the next stage of Aurum’s development.

“Aurum’s success is testament to the strength of our brands, the execution of a defined vision and strategy, committed world class partnerships and the dedication of the entire Aurum team.”

 

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