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Mouchel signs new banking deal as Costain circles

Mouchel has announced it has successfully refinanced its main banking facilities, in the midst of take-over approaches by Costain.

Under the terms of the deal the consulting company has agreed total facilities of £170 million that extend to 31 March 2014. 

Mouchel chief executive Richard Cuthbert said: “The completion of this refinancing is an important turning point for Mouchel. It provides the Group with stability and ensures that we can continue to compete successfully in our chosen markets.

“With our new facilities and our leading market positions in local government outsourcing, public sector consulting, highways and water, we look forward with renewed confidence to implementing our strategy, working with organisations across the UK public sector – and in selected overseas markets – to improve the quality and efficiency of public services.”

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