Industry: Manufacturing
Product: Asset based lending (ABL)
Facility size: £7.5 million
Close Brothers was approached by an independent corporate finance advisory practice on behalf of their client who was looking to secure funding to support with expansion into new product areas.
An ABL solution was proposed and a £7.5 million funding package was structured using invoice discounting with IDeal™, stock finance and an asset finance package to repay existing acquisition debt whilst providing additional headroom for further investment.
The facility has enabled the manufacturing firm to invest in a capital equipment programme which has successfully facilitated expansion into new product areas, resulting in improved efficiency and increased sales.
