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Leonard Curtis supports Creonate Manufacturing Limited with asset finance facility
Having just passed the 4th anniversary of the UK entering a Covid-induced lockdown, the Leonard Curtis funding team are familiar with clients that continue to deal with the financial impact of the pandemic and the UK Government’s actions.
This was brought into focus when the management team at Creonate Manufacturing Limited, a UK-based company in the lateral flow test kit and contract manufacturing sector were introduced to Shaun Hyland in our London office by Allie Lyndsey of Maven VCT.
This client needed the final push to get its independent ISO13485 accreditation over the line, key contracts agreed and its environmental materials to volume manufacture defined. With time a key consideration, it was quickly decided that the best option would be an asset finance facility secured on high value equipment. Conal Myers and the team at Praetura Asset Finance immediately expressed interest in the opportunity and showed the flexibility and attitude to get the deal done to the satisfaction of everyone involved.
“Conal and the team at Praetura Asset Finance were great to work with” said Hyland, “and I have to credit them for their client care and ability to deliver.”
Kevin Woolston, MD at Creonate Manufacturing Limited said “following formation in late 2022, there has been significant shareholder backing to install and develop sustained growth and presence as an independently owned UK manufacturing facility. As an asset rich organisation, releasing value with Praetura following Shaun Hyland’s introduction was a pivotal moment in Creonate’s business model, and the process was made all the more positive by the human approach to see this deal through”.
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