HERITAGE carpet maker Brintons has agreed what it described as a £26.5 million refinancing which it says will recapitalise the business.

The manufacturer, backed by investment group Carlyle Group since 2011, has refinanced with the support of HSBC Leveraged Finance, and says it will use its new capital structure as a springboard for growth.

Brintons grew global turnover by 12.6 per cent to £76.8m in the year to 26th September 2015, with EBITDA near doubling to £8m and the group making its first profit at the pre-tax line since it was acquired by the Carlyle Group.

No specifics regarding the refinancing were released. At 30th September 2015, the Brintons group* had net debt of £49.6 million (2014: £47.5 million) including £12 million of secured bank borrowings and £43.7 million of shareholder loans, due for repayment in 2019.

* holding company Lytham Holdco Limited