Our client came to us looking to purchase a transport business that was complimentary to their existing operation in a nearby area.
The business owner identified the business was undervalued due to current conditions and wanted to secure funding for the acquisition without changing their existing property finance.
The client’s original business had an invoice finance facility – in the event of successful acquisition the facility would need a larger limit to take in the increased revenue after the acquisition is finalised.
After completing valuations of the assets and equipment the value was under what was required. Taking the additional security of the accounts receivable ledger in the invoice finance facility, and a caveat over one of the director’s investment properties we were able to secure an offer well above the values ensuring the acquisition without using any cash reserves.
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