Cross-border financial services provider STM Group has signed a credit facility with Royal Bank of Scotland (International) to fund its M&A strategy.
The company previously announced that it would be opening the line of credit, but has now stated the money “is expected to be drawn down in line with acquisition milestones by 22 April 2022, at the latest”.
It will purely be used for M&A purposes.
No details were provided about any target firms or geographies.
Acquisition track record
STM is no stranger to M&A deals, having bought 100% of the share capital of Berkeley Burke (Financial Services) and Berkeley Burke Employee Benefit Consultants in August.
Two years ago, it acquired Carey Pensions; which was embroiled in long-running dispute that eventually concluded in favour of the firm earlier this year.
