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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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.