The environmental services group RSK has raised £500 million from private equity firms rather than from pension funds looking to back British companies under Jeremy Hunt’s Mansion House reforms.
The fast-growing company, which plans to take its revenue from £1.2 billion to £5 billion by 2030, previously had said it was interested in direct investment from pension funds, which it saw as potentially longer-term supporters of its expansion plans.
However, RSK said that it now had sold a £500 million preferred equity stake to Searchlight Capital Partners and Ares Asset Management. In addition, Ares has provided a £300 million debt facility, taking RSK’s total available facilities from Ares to £1.4 billion.
The Cheshire-based company, which employs 15,000 people globally, said it had decided that the