Barclays Corporate in the Midlands has acted as Sole Bookrunner on the refinance of Hill & Smith Holdings PLC's ("Hill & Smith") bank facilities. The new five year, £210m multi-currency Revolving Credit Facility will meet the company's financing needs for the next few years and enable it to continue to execute its strategy including geographical expansion and selective acquisitions. HSBC also backed the deal, as part of a banking club that included Lloyds TSB Bank plc, Svenska Handelsbanken AB and Clydesdale Bank PLC.

Following Barclays Corporate's support for Hill & Smith's $45m acquisition of The Paterson Group Inc. in March 2011, Barclays was appointed by Hill & Smith to lead and co-ordinate the refinance of their bank facilities.

A multi-disciplined Barclays deal team led by David Jew (Relationship Director, Barclays Corporate Birmingham) and Mike Giddings (Director, Debt Finance, Barclays Corporate Birmingham) co-ordinated the refinance from the outset and supported Hill & Smith in the preparation of the Information Memorandum, approaching potential participant banks and co-ordinating the negotiation of the loan documents.

David Jew commented, "We are delighted to have played the leading role in Hill & Smith's refinancing. Hill & Smith are a long standing customer of Barclays Corporate. We have an excellent relationship with the management team and our role on this transaction further strengthens this. We look forward to seeing Hill & Smith continuing to grow in the future."

Mark Pegler, Finance Director of Hill & Smith commented: "We were pleased that Barclays led the refinancing and for their continued confidence and support. They quickly assembled a deal team which assisted us right the way through the process. These new facilities will enable us to continue to execute our strategy and develop the Group in the coming years."

HSBC's corporate banking team in the Midlands acted as Joint Mandated Lead Arranger in the deal. Ian Stitt, HSBC Deputy Head of Corporate Banking, Midlands, commented: "We're delighted to take on this integral role alongside Barclays, in what is a strategically important move for this existing HSBC customer. This deal sees us increasing our support for Hill & Smith, and as such we look forward to furthering the progression of this key Midlands business."

DLA Piper LLP Birmingham acted for the banks and Pinsent Masons LLP Birmingham acted for Hill & Smith.