Industry: Transport and haulage
Product: Invoice discounting with Liquidity Plus
Facility size: £1.2 million
The owners of this highly profitable haulage company wished to retire and sell the business to a new management team, backed by a well known venture capitalist.
A stretching prepayment using the Liquidity Plus product was required to finance the purchase of the shares.
Both clearing banks and independent lenders were reviewed, however Close Brothers was chosen being best placed to offer a higher amount of funding.
The high level of cash flow advanced is unusual, yet appropriate for a lucrative firm with an exceptional sales ledger and no other debt.
Now the transaction is complete, the new owners plan to organically grow the business and look for possible new acquisition targets.
