Industry: Wholesale and distribution
Product: Confidential invoice discounting and plant and machinery loan
Facility size: £2 million
This client is a rapidly growing group of companies specialising in plant and machinery hire and the provision of building supplies to the construction industry. It has established a reputation for providing high quality service and offering a range of modern equipment to a wide variety of customers. Close Brothers Invoice Finance was approached by a private equity sponsor to support the acquisition of a business through the provision of an asset based lending facility.
Close Brothers has provided a £2m facility including receivables and a plant and machinery loan. This provides acquisition and working capital facilities that supports the continued growth aspirations of the business.
Neil Jones, MD in the South at Close Brothers Invoice Finance said, “we are delighted to have worked with such a well-respected private equity house to complete this transaction. By working together and taking the time to fully understand our customer’s business and its objectives, we have been able to provide a flexible and efficient solution to facilitate the acquisition and enable the ambitious growth plans of the business. Close Brothers prides itself on generating highly bespoke and innovative asset based lending solutions and in supporting this private equity sponsor we have shown that our appetite for this type of transaction is as strong as ever.”