£5,000,000 ABL facility supports business acquisition

£5,000,000 ABL facility supports business acquisition

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.