Creative Outsourcing Solutions International (COSi) completed a refinancing in February, obtaining new funds for the working capital needs of the business as well as for investment in the group’s strategic initiatives. COSi’s new comprehensive debt package includes asset-based lending facilities provided by Venture Structured Finance.
Venture Structured Finance replaced Barclays Bank, COSi’s financier for over four years, as a debt provider; however Barclays Ventures remains a major shareholder. COSi’s Chief Finance Officer, Alison Henriksen, commented, “Management is delighted with the outcome of the refinance and the flexibility of the facilities we now have in place. As a manufacturer, asset based lending has proved to be a very attractive option, and we have found Venture Structured Finance to be innovative in the way they’ve structured the deal”.
COSi produces color cosmetics and toiletries for major brand owners all over the world from its plants in Wales and West Sussex, UK.