Industry: Manufacturing and Distribution
Product: Asset based lending (ABL)
Facility size: £5,000,000
Business need: Company acquisition
Elements of the deal: Invoice discounting, plant & machinery and stock
An investment firm, who specialise in purchasing UK manufacturing companies, required funding to acquire a new business.
Due to a flexible approach and innovative track record of structuring deals, Close Brothers was engaged to provide the necessary level of funds to facilitate the acquisition.
As a result, a £5,000,000 ABL arrangement was structured consisting of invoice discounting in addition to funding against plant & machinery and specialist stock. The business took advantage of Close Brothers swift decision making processes allowing short timeframes to be met and in turn, completion of the acquisition.