The directors of a long established engineering company based in the South of England were looking to retire, the proposed purchasers called us for assistance.
The proposed directors already owned a smaller engineering business. Here are the processes and the specifics of their finance solution.
The proposed sale price was £1.2m and the new directors had £100,000 of cash to invest. The purchase price included all stock and ongoing contracts.
We arranged the necessary valuations and funding through our partners and agreed a term and payment date to suit the purchaser. Once the contracts were completed funds were released.
We raised £650,000 against the existing debtor book, £350,000 against the existing machines plus a further £100,000 against machines owned by the purchaser.
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Priory Asset Finance Limited (Reg. No 09726136), Registered Address 24 Cornwall Road, Dorchester, Dorset DT1 1RX
Priory Asset Finance Ltd is a credit broker and not a lender, we are not regulated by the Financial Conduct Authority and only provide non regulated credit facilities.web design: ptn ystems