• Centurion
• 22/01/2024

CENTURION EXTENDS BANKING FACLITIES

• Facility size has increased by ~$56m, taking the Group’s overall facilities to ~$390m
• ~$130m of firepower to support ambitious sector diversification strategy

Centurion Group (“Centurion” or “the Group”), a global leader in the supply of specialist rental equipment and services to critical industries, employing over 3,200 people, across 95 locations in 14 countries, announces a two-year upsizing and extension of its existing credit facilities from 31 December 2023 to 31 December 2026. The facility size has increased by ~$56m, taking the Group’s overall facilities to ~$390m.

The increased funding will support Centurion to accelerate organic growth through capital expenditure, working capital investment and for future acquisitions. The Group has completed five major acquisitions in 2023 in line with its ambitious sector diversification strategy, most recently in December concluding the purchase of H2M Offshore Accommodations, and has an active M&A pipeline. Since its formation in 2018 Centurion has completed a total of 16 acquisitions, whilst growing Group statutory revenues by ~125% to ~$745m in 2023.

Euan Leask, Chief Financial Officer, said:

“We are very pleased to have upsized our revolving credit facility with our existing bank group, with eight out of nine banks increasing their commitments. The latest extension reinforces the Group’s available facilities and is a vote of confidence in our strategic focus on rentals and services for critical industries. The new facility brings us ~$130m of firepower to support both Centurion’s organic growth plans and its acquisition pipeline, and will allow us to further diversify into new locations, offerings and industries.”

ENDS

Enquiries:

Teneo

Martin Robinson / Nina Chatrath / George Croton

+44 (0) 207 353 4200 / centurion@teneo.com

About Centurion Group

Centurion is a global leader in the supply of critical services to the oil & gas, infrastructure, power, environmental and renewable energy industries. It combines the scale and the breadth of offerings in five main regions: the US, Canada, UK, Europe & Caspian, Middle East & North Africa, and Asia Pacific, with strong local presence in key energy markets to deliver value to customers around the world.

For more information, please visit www.centuriongroup.co.uk