1 Jul 2026
BZ is pleased to announce the renewal and expansion of its £80 million financing facilities for ASCO, the leading global, full-service logistics and operational management specialist.
The renewed £80 million facilities provide ASCO with a long-term funding platform through a new five-year club facility, jointly provided by BZ and Leumi ABL, with BZ continuing to act as lead lender. The refinancing includes increased term loan commitments, providing additional capital to fund ASCO's ongoing growth strategy and investment plans.
The transaction builds on the successful financing package originally established in support of Endless LLP's acquisition of ASCO and reflects the continued confidence of both lenders in the business, its management team and its long-term growth prospects.
For more than 50 years, ASCO has built a reputation for transforming operations across the globe. ASCO is an essential partner for end-to-end materials and equipment management offering a full suite of integrated solutions. Backed by Endless LLP, the business operates across a range of critical industries, supporting customers through a comprehensive service offering spanning logistics, materials management, asset management and environmental services.
The renewed £80 million facility combines revolving working capital facilities with increased term loan funding across its international operations. The structure provides ASCO with enhanced financial flexibility to support strategic initiatives, investment opportunities and future growth.
Jeremy Stagg, Head of Portfolio & Operations of BZ, commented
"ASCO has continued to perform strongly since the original transaction, and we are delighted to extend and expand our support for the business. This refinancing demonstrates the value of long-term partnerships and our ability to provide flexible, scalable funding solutions that evolve alongside our clients' requirements. We look forward to continuing to support ASCO and Endless as they execute the next phase of the company's growth strategy."
Quote from Andrew Ross, Endless LLP
"Our partnership with BZ and Leumi has been a key component of ASCO’s progress since our investment, and we value the constructive, long-term approach they have brought to supporting the business. This facility builds on that strong foundation, delivering a capital structure aligned with ASCO’s strategic ambitions."
Quote from Paul Hunt, CFO of ASCO
"This deal marks an important next step in our partnership with BZ and Leumi, further strengthening our funding platform as we continue to deliver on our growth strategy. The enhanced Club facility provides the flexibility to invest across our operations and capitalise on opportunities in both established energy markets and the energy transition, as well as across new end markets. ASCO values the continued support of our lending partners as we build on our momentum and look ahead to the next phase of ASCO’s development."
About BZ
BZ provides structured facilities of up to £200 million, supporting clients across a broad range of sectors and jurisdictions. By combining asset-based working capital facilities with term and cash flow tranches, BZ delivers flexible, tailored private credit solutions that meet strategic objectives. Backed by Davidson Kempner Capital Management, BZ brings deep structuring expertise and substantial financial capacity to deliver scalable funding with speed and certainty.