Wells Fargo Capital Finance UK provided a working capital financing solution to K.T.C. Edibles (KTC), a UK-based supplier of edible oils.
Acting as the sole lender, Wells Fargo Capital Finance provided an asset-based credit facility to support Endless’ acquisition of KTC as well as to provide liquidity for the company’s future growth and working capital requirements.
“We are pleased to have completed the acquisition and refinancing with our new business partners,” Paresh Mehta, CEO of KTC, said. “We thank the Wells Fargo team for their seamless and efficient execution through this process and look forward to a long and prosperous future with them.”
“We are thrilled to have been given the opportunity to acquire KTC and pleased to have Wells Fargo Capital Finance support us in the acquisition,” Aidan Robson, managing partner of Endless, said.
“We are delighted to deliver a credit solution to KTC, one of UK’s leading suppliers of edible oils, a facility that is tailored toward their business needs and future growth opportunities,” Julian Osborne, director of UK originations at Wells Fargo, said. “By leveraging Wells Fargo’s capabilities and industry expertise, Endless was able to acquire KTC and position itself for future success.”
Morgan, Lewis & Bockius UK advised Wells Fargo Capital Finance on this transaction, while Interpath ran the debt advisory process.
