Towry streamlines with £47m debt package

The package, arranged by private equity majority owners Palamon Capital Partners, replaces an existing "mezzanine" facility, a form of debt more expensive to service than a standard loan. CEO Andrew Fisher [pictured], said the new lending facilities would "significantly reduce" Towry's financing costs and allow for further expansion of the company. "Our finance team has put in an exceptional amount of work in order to secure these loans, which we believe will help us to achieve our ambition of becoming the leading firm of wealth advisers in the UK," he said. Palamon first investe...