£300k IDeal™ facility to support acquisition

Manufacturing man

Industry: Manufacturing

Product: IDeal™

Facility size: £300,000

This profitable manufacturing business required funding to assist with a company acquisition. To enable this, they decided to release additional working capital from unencumbered company assets, including outstanding customer invoices. Their accountant recommended that they approached Close Brothers.

Following a meeting with the company owners, Close Brothers Invoice Finance tailored a sustainable invoice discounting solution releasing 85% of the total value of unpaid customer invoices. This immediately released £300,000 of liquidity to cover costs associated with the acquisition, whilst ensuring usual work continued.

The manufacturers also opted to use our fully automated facility management platform, IDeal™. This provides a live view of available funds, and 24/7 access to cash from invoices they have raised.

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