Kartesia announces 2nd deal in a month from its Impact Strategy with financing for RCI Group
Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce that it has provided a sustainability-linked financing facility to RCI Group (RCI or The Group), a UK services provider focused on improving outcomes for people across the UK with expertise in criminal and family justice, forensic healthcare, community mental health, and data and technology. This is the second investment from Kartesia’s impact investing strategy and the first in the UK.
The Group maintains the highest standards for services, with staff undergoing rigorous training, vetting and revalidation processes. As a result the Group enjoys consistently positive feedback from regulators and commissioning bodies. Through this high-quality service, RCI looks to create additional capacity to support public services and help people at a time when they need it the most.
The new facility will support the continuing expansion of RCI and its acquisition of Prometheus Safe & Secure and Prometheus Complex Care, further extending its offering within mental health services, whilst also promoting agreed ESG measures that reinforce the Group’s already strong stance on maintaining and developing its social impact. As part of the terms set out in in the facility, RCI will benefit from more attractive financing conditions if they continue to meet certain KPIs agreed with Kartesia. The fulfilment of these KPIs will be annually audited by a third party specialised in ESG auditing.
RCI Group is part of the portfolio of Literacy Capital plc and was created from a foundation investment in Mountain Healthcare in 2018. Literacy Capital plc is a closed-end investment company focused on investing in and supporting UK businesses and is the only investment fund of its type to have been set up with a charitable objective to donate 0.9% of net assets every year in cash to literacy charities in the UK.
The deal team at Kartesia consisted of Nick Holman, Kamil Kapasi and Serafina Di Felice.
Kamil Kapasi, Associate Director at Kartesia, said, “Social Impact is intrinsic to RCI’s offering with a strong focus on improving health and wellbeing whilst also reducing inequalities when people look to access the public health, social care and justice systems. Coupled with Literacy’s charitable objectives to support children’s education, it was clear there was an alignment across all parties and that this was a clear candidate for our second investment for the Kartesia Impact Strategy. The chosen KPIs will help support RCI’s already high commitment to social impact and, alongside Literacy Capital, we look forward to supporting the future growth and progress of RCI Group.”