Croydon-based Cathay Investments has acquired three new businesses, having secured a £24 million revolving credit facility from HSBC.
Cathay Investments invests in businesses carrying out a range of distribution activities, including composite materials and chemical distribution companies, logistical providers and stationary and toy suppliers.
According to Cathay, the majority of the funding package was used to acquire Holland-based Lantor, a multinational producer of non-woven materials for the cable and composites industry. The rest of the financial facility was used to attain The Original Poster Company, a leading distributor of greeting cards and PNC Global Logistics, a provider of specialist logistics and supply chain solutions.
Nicolas Hicks, HSBC’s Area Director for Corporate Banking in the South East, said, “Cathay Investments is a hugely successful company and major player in the Croydon area. The latest acquisitions are part of the company’s commitment to expand its chemical and distribution business and are a huge achievement for the team at Cathay. We look forward to seeing how the company continues to grow over the coming years, as well as how Lantor, The Original Poster Company and PNC Global Logistics thrive under the support of Cathay Investments.”
Ben Chaing, Owner of Cathay Investments, said, “We are pleased to announce the recent acquisitions of Lantor, The Original Poster Company and PNC Global Logistics. The acquisition of Lantor has allowed us to provide our clientele with the best possible service in a competitive market place, as well as providing Lantor with a long-term shareholder that knows the industry and will assist with the development of future plans.”
Image provided by Cathay Investments
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