Northwest England Turnover £3m
We were asked to assist by the invoice financier as the company was subject to arrangements with creditors which it was unable to maintain.
Management believed there was a viable business without the historic debt liabilities and expressed an interest in purchasing the business.
The proposed strategy was agreed with the invoice financier and ongoing critical cashflow advice was provided.
Following a period of marketing, management submitted an offer which included the equity in the debtor ledger. This was a crucial element to maximise value in the main asset, and was recommended for acceptance by independent valuation agents.
The purchaser entered into a new invoice finance facility with the existing funder therefore maintaining a client for them.
The sale allowed for continuity and continued involvement of senior management, which maximised value in the ledger for all stakeholders, including the funder, purchaser and creditors.
All staff employment was maintained including placement staff and allowed for continuity for clients.
The above actions maximised the return and mitigated any need for the funder to call on the directores personal guarantee.
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Reach Commercial Finance Limited. Registered in England no 09056450. Leonard Curtis is a trading style of Reach Commercial Finance Limited. Leonard Curtis is a broker not a lender and is independent with access to the whole of market. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. Authorised and regulated by the Financial Conduct Authority FCA no. 753686. Registered with the Information Commissioner’s Office reference ZA069234
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