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Fort Capital Partners is pleased to announce that NowVertical Group Inc. (TSXV: NOW) (“NowVertical” or the “Company”), a leading global data and AI solutions provider, together with its affiliates NowVertical UK Ltd. and NowVertical Group, Inc., has entered into a senior secured facilities agreement (the “Facilities Agreement”) with HSBC UK Bank plc (“HSBC”).
Pursuant to the Facilities Agreement, NowVertical has access to credit facilities of up to US$18M which may be increased by up to an additional US$8M upon the approval of HSBC, for total credit of up to US$26M to fuel growth.
“This Financing Agreement is truly transformational for NowVertical,” said Sandeep Mendiratta, CEO of NowVertical. “It simplifies our capital structure by consolidating debt previously spread across multiple lenders into a single, long-term facility with significantly improved terms. This provides immediate access to capital to fuel our organic growth under the ‘One Brand, One Business’ strategy, while also positioning us to pursue targeted, strategic acquisitions. Importantly, the Facilities give us the flexibility to renegotiate or fully retire our existing convertible loan, materially reducing our cost of capital and preserving our cash position. Combined with a shift from short-term to long-term debt, this strengthens our balance sheet and allows us to operate with greater agility. HSBC’s support reflects the institutional confidence we’ve unlocked by evolving into a single, integrated business—providing enhanced capital access and a stronger foundation for scalable, strategic growth.”
Fort Capital acted as the exclusive financial advisor to NowVertical in connection with this transaction.