Case study
Case study: Speed and certainty required to support growth facility for Forward Travel
Background:
- Previous deal with incumbent bank fell through at the final stage
- Looking to refinance its existing facility
- Additional growth funding required
- Speedy solution was crucial
Forward Travel, a private equity–backed business operating in the travel and hospitality sector, was referred to Leonard Curtis after facing a last-minute funding setback. Their incumbent lender had withdrawn support at the final stage of a planned facility, leaving the business in urgent need of guidance and funding to maintain momentum. The client was looking to refinance its existing facility, reduce borrowing costs, and raise additional capital to support ongoing growth and working capital needs.
With clear strategic objectives and strong investor backing, the business needed an advisor who could not only access the right lenders quickly but also manage the entire process efficiently, ensuring minimal disruption to day-to-day operations.
Our Approach
Mike Dinnell, Structured Debt Manager at Leonard Curtis, was appointed to structure and manage the funding process from start to finish. Leveraging his deep understanding of the debt market, Mike worked closely with both the client and private equity firm to understand the funding requirements in detail and shape a compelling credit proposition.
By engaging with our extensive panel of lenders, from high street banks to specialist funders, Leonard Curtis was able to provide the client with a range of viable options. Mike managed the process end-to-end, coordinating all stakeholders and ensuring the completion process ran efficiently. Crucially, this removed some of the burden from the client’s management team, allowing them to stay focused on running the business throughout the process.
The client chose a simple term loan facility, which aligned closely with their growth plans and need for improved cost efficiency. The new facility successfully refinanced the previous debt facility, reduced the overall cost of capital, and provided additional working capital to support future expansion. Several funders expressed interest, but the new lender emerged as the best fit based on the terms and relationship potential.
In addition to securing the right funding solution, Leonard Curtis helped manage the transition from the incumbent lender, ensuring a smooth handover and maintaining positive relationships throughout. The deal was completed within 14 weeks from inception, meeting the client’s need for both speed and certainty.
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with a an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.