Independent Growth Finance delivers £3m facility to EPI GroupIGF, the leading commercial finance provider for SMEs, has provided a £3 million confidential invoice discounting facility to oil and gas exploration consultancy firm, EPI Group.
This facility enables EPI to implement its diversification strategy into new services alongside its continuing geographical expansion.
EPI has 30 years’ experience in delivering exploration and production consultancy services to the oil and gas industry, supporting clients with their seismic surveys, environmental projects and wellsite operations. Headquartered in the UK, it has offices in the US, Australia, Russia, France, Ghana and South America.
Through the recent acquisition of geoscience consultancy, P.D.F. Limited, EPI has further developed its scope for supporting clients’ exploration and development programmes. This facility will therefore also provide working capital to support the anticipated growth across the newly combined organisation.
Alan Austin, ABL Director, London and South East at IGF, said: “EPI plays a vital role in the oil and gas services industry across the UK and abroad. With clear opportunities post-acquisition, we are proud to support the firm’s future growth.”
Richard Bradley, CFO of EPI Group, said: “The fall in oil prices has put pressure on many companies across our sector, but we have continued to invest responsibly in our platform to best position the business for improving market conditions. We are delighted to have secured this facility from IGF to provide funding for further diversification and expansion of our business. IGF’s experience, flexibility and like-mindedness demonstrated to us that they were the right partner for EPI.”
This deal comes as the latest in a string of partnerships from Independent Growth Finance, which is rapidly increasing its reach amongst businesses across the UK.