£10m turnover packaging business in Receivership
Wed, 17 Oct 2007
Our client was looking to buy a substantial packaging business that was in receivership but needed to finance the entire deal without putting any of his own money in by using asset based finance and factoring.
We have arranged a package of funding against the plant and machinery that provides sufficient cash to allow our client to buy the business from the receivers, together with a factoring arrangement to provide the working capital with which to continue the trading.
The only cash the buyer had to find in the end towards funding the purchase was £2k to cover the cost of the valuations.
