Case study

Sticking to success with Invoice Discounting

20-06-2024

Specialising in the manufacture and distribution of adhesive tape for over 50 years, this business was looking for a funding line that could help with its cashflow requirements and was introduced to Ultimate Finance’s Regional Director Julian Cassen by Chris Ray of Branta Advisory, the corporate finance advisers who had been engaged to run the sale process by the business’ shareholders.

Julian recalls, “Chris introduced the client to us on the 19th of December and the team at Ultimate Finance worked on the requirements of the business over the festive period and approved a confidential Invoice Finance solution as we strongly believed that that would be the perfect funding line to help with the cashflow needs the business was experiencing. At the time, the business was in the middle of a Management Buy In (MBI), and a bank had offered the incoming Directors a package including a term loan, which appeared to be right for the transaction. Although they were looking forward to benefit from an Invoice Finance facility from us the terms of their package meant they were unable to do so”.

However, within a few months, the terms of the facility had changed and the MBI was restructured so that there was no longer a need for a term loan, but the business was still seeking an Invoice Finance provider, and so they decided to get back in touch with Chris and Julian in April this year.

Chris explains, “Although not all businesses may know this yet, most can benefit from working with a funding partner that not only provides them with the funding they came to them for, but also a service that they appreciate. We have seen many businesses disappointed by – or worst, stalled by – a lender that doesn’t understand the uniqueness of each client and provides a one-size-fits-all service approach. Ultimate Finance has proven that it takes relationships very seriously and that is what made all the difference in the end and meant that the business was back in touch within just a few months of the original approval in December”.

The team at Ultimate Finance provided a £1m Invoice Discounting facility with debtor protection to fund their international trade and offer the business extra peace of mind should a customer be unable to repay. Julian adds, “We are delighted to be able to support the business, as right from the start we understood what makes the business successful and how we can support it now and into the future. We have developed a great relationship with the Directors and their wider team and really look forward to seeing them grow from strength to strength in years to come”.

Taking to independent review website Trustpilot where Ultimate Finance currently holds the industry-leading score of 5/5, Chris said, “Julian Cassen and [Head of Sales] Nick Haggitt were exceptional. They arranged a superstar deal team (including the CEO [Josh Levy]!) at very short notice over the Christmas period. They then gave us the comfort, professionalism and patience to complete a challenging Management Buy In with as little trouble as I’ve experienced from the invoice discounting market”.

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