PwC advises Veloris Group Limited on a multi-jurisdictional ABL refinancing following the carve-out acquisition by Endless LLP

PwC is pleased to have advised Veloris Group Limited (“Veloris”) on the refinancing of the business following its successful carve-out acquisition by Endless LLP. The refinancing saw a multi-jurisdictional, asset-based lending facility provided by Wells Fargo Capital Finance (UK) Limited (“Wells Fargo”), secured against the receivables and inventory of the group. The new facility provides significant flexibility and a strong financial foundation to support the growth of the business under its new ownership.

Veloris is Europe’s largest independent battery distributor, supplying one of the broadest battery ranges across the automotive, industrial, leisure, marine and energy storage system markets throughout the UK and Western Europe. The business benefits from a highly diversified end-market exposure, strong customer relationships and a well-established pan-European distribution network.

The refinancing follows the successful carve-out of the business from Ecobat Group and represents a key step in positioning Veloris for its next phase of development. With the support of its new shareholder, Endless LLP, and a scalable funding platform in place, the group is well positioned to invest in growth initiatives, enhance operational capabilities and continue to strengthen its market-leading position.

PwC’s Debt & Capital Advisory team managed the refinancing for Veloris Group.