Expertise in reviewing, valuing and lending against assets enabled an all-asset finance solution in partnership with Centric Commercial Finance.
By The Numbers
We were approached by Centric Commercial Finance to provide joint funding that would refinance existing loans and inject additional liquidity into Ashbury Chocolates Ltd. The chocolatier, which supplies all major UK retailers and the larger global market, had initially reached out to Centric with a refinancing proposal in August 2013. Given that the collateral included inventory and plant & equipment, our asset lending expertise was perfectly aligned with the deal. We completed a comprehensive review and valuation of assets, utilising our deep understanding of asset values and available capital. Working in close partnership, we were able to negotiate and create a financing structure to suit all parties. Together with Centric Commercial Finance, the joint senior facility totalled £7.9 million, with our contribution of £2.9 million against inventory and plant & equipment added to Centric’s £5 million against accounts receivables. This complete financial solution put Ashbury Chocolates Ltd on a much sounder financial footing.