News Archive
Merlin Refinances for a Stronger Future
12/02/2010
In October last year, Merlin appointed PwC to review the business, our strategy, and the market. The review was extremely positive, but did confirm the need to refinance on more favourable terms. As a result Merlin is about to conclude a refinancing deal which will see:
• A reduction in balance sheet debt of £71.1m
• A reduction in interest and capital repayments of £4.6m
• A reduction and re-phasing of debt repayment over the next 8 years
• A new investment of £3 million of cash
The successful conclusion to the refinancing is a reflection of our strong relationships with our investors, RBS, Babson, and Bridgepoint, the confidence they have in our strategy and their commitment to the business for the future.
Richard Webster, CEO of Merlin commented, “A lot of groundwork has been done over the last 2 years in improving the business; new premises, technology, people and working practices. The financial restructuring is the final piece in the jigsaw that will allow us to continue to develop our market leading Loss Adjusting and Claims Management offering.”
Merlin's Financial Results Year Ended April 2010 (18/08/2010)
Merlin and L&G express surprise at claims inertia (12/08/2010)
Merlin announces New Loss Adjusting Regional Manager (05/08/2010)
Merlin's Belfast Office Relocates to Larger Premises (28/07/2010)
Merlin Restructures Chartered Loss Adjusting Division (16/07/2010)
Richard Webster CEO is interviewed by Insurance Times (28/06/2010)
Merlin Wins Another Award for Innovation and Technology (17/05/2010)
Merlin Completes Re-financing deal (11/03/2010)
Once again Merlin puts the "Customer First" (05/03/2010)
Merlin's Manchester Office is on the Move (29/01/2010)
Supporting The Children's Trust (23/12/2009)
Cumbria Floods Update (01/12/2009)
Cumbria Floods Update - Wednesday 25 November (25/11/2009)
Cumbria and Scotland Floods Update (24/11/2009)
Merlin Responding to Flooding in North West of UK (20/11/2009)
Our Bristol Office is Moving (05/11/2009)
Merlin's New OnCover Platform puts Brokers in Control (26/10/2009)
Merlin Contractor Gelder Group receive Investors In People Gold Certificate of Recognition (16/10/2009)
Merlin shortlisted for 2009 Insurance Times Award (22/09/2009)
Merlin wins BIA Loss Adjuster Initiative of the Year (14/07/2009)
Merlin holds it 2009 Staff Conference and Star Ball at Alton Towers (14/07/2009)
Contractors tee off to a great day (20/05/2009)
Merlin opens for business in Belfast (20/05/2009)
Merlin implements Xactware software to deliver market leading indemnity spend control (20/05/2009)
Merlin offices merge into dedicated service centre (14/05/2009)
Legal and General links with Merlin Claims (14/05/2009)
John Watson joins Merlin (20/04/2009)
