finnCap have advised IDE Group Holdings plc, the mid-market network, cloud and IT Managed Services provider, on their £5.5m fundraising.

The net proceeds from the Fundraising will be used to alleviate the short term cash pressures on the Company and work towards normalising creditors. The proceeds will facilitate the restructure to right-size the business enabling the Company to trade profitably whilst the Company continues its strategic and operational review evaluating a range of options to recognise value for stakeholders, including the divestiture of certain business lines and assets within the Group. RBS remains supportive of the Company and have confirmed that they will not call for the overdraft to be repaid upon receipt of the funds from the Fundraising.