Travers Smith LLP has advised Volex plc (Volex), a global provider of integrated manufacturing services and power products, on a three-year $100 million multi-currency revolving credit facility.
The new facility consists of a $70 million committed facility with a $30m accordion feature and replaces Volex's current $30 million credit facility, increasing its capacity for investment in future growth.
Volex is a leading integrated manufacturing specialist for performance-critical applications and supplier of power products. It serves a diverse range of markets and customers, with particular expertise in cable assemblies, higher-level assemblies, data centre products, electric vehicles and consumer electronics. Headquartered in the UK, Volex operates from 14 manufacturing locations and employs over 6,000 staff across 20 countries.
The Travers Smith team was led by Finance Partner Katie McMenamin with support from Senior Associate Jonathan Clapshaw and Associate Fiona Cantlay.
Partner Katie McMenamin commented "Through operational agility and a unique geographic footprint, Volex has navigated an exceptionally difficult period in the wider global economy caused by the COVID-19 pandemic. As the UK returned to national lockdown restrictions, we were able to smoothly deliver this complex, international transaction that will support Volex to continue progressing its strategic objectives."