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.