Operating in a highly competitive market, this award winning manufacturing and distribution firm found itself restricted by the funding levels offered by their exiting bank, leading them to explore new options.
Close Brothers Invoice Finance were engaged having previously supported another business within the group of private equity backed companies and were chosen as the new lenders.
Close Brothers put together a package comprising IDeal™ and the Liquidity Plus product which allowed the firm to immediately release 100% of the value of its unpaid invoices, instantly injecting £1m of funding.
Since the refinance has completed, Close Brothers has been able to provide additional cash headroom for the company. This allowed company investors the opportunity to extract cash from the business, while ensuring the firm is not restricted by the company cash flow.