When a well-established electrical services business in the North East of England came up for sale, a serial entrepreneur spotted a bright opportunity. The business, founded in 2012 and run by a husband-and-wife team, had built a strong reputation for delivering a wide range of commercial electrical services – from fuse board upgrades and PAT testing to fire and intruder alarm installations and EICRs.
With the current owners planning a permanent move abroad, the buyer needed a funding partner who could move quickly and tailor a facility that would support the acquisition and provide working capital from day one.
A referral that sparked a deal
The buyer was introduced to Ultimate Finance by one of our existing clients – proof that great relationships really do keep business moving. This introduction also qualified the referrer for our Client Referral Scheme, which rewards clients for every successful referral.
Regional Director Sarah Harrison says, “We believe that when you’ve experienced the benefits of working with a funding partner who delivers fast decisions, flexible facilities and standout service, it’s only natural to want to share that with others. This year, our Working Capital Finance clients awarded us an outstanding Net Promoter Score of 91 – demonstrating just how likely they are to tell other businesses about our funding solutions. That’s why we’ve designed our Referral Scheme to be simple and rewarding”.
“For referring this business to us, we rewarded our existing client with an additional £1,000 – it’s our way of saying thank you for helping us support more businesses across the UK”.
A facility built for flexibility
Sarah worked closely with the buyer to understand the acquisition structure and unlock value from the debtor book to support the transaction.
She explains, “We provided a £300,000 Invoice Finance facility with an 80% prepayment. This enabled £150,000 of the £400,000 day one consideration to be funded directly and left the rest available as working capital – giving the business the breathing room it needed post-acquisition”.
Powering the next phase
Our funding played a key role in enabling the 100% share purchase of the business. The exiting Directors were able to realise their plans to relocate abroad, while the new owner gained a strong foundation for future growth.
The new owner says, “With the acquisition complete, we now plan to grow the business both organically through leveraging our existing industry contacts and further strategic acquisitions that complement the service we’re already offering”.
“The team at Ultimate Finance showed a great deal of understanding of the opportunity and challenges we were facing and delivered an outstanding service. We’re looking forward to continuing to benefit from their support as we take on our next phase of growth”.
Why choose Ultimate Finance?
We understand that acquisitions move fast – and so do we. With a facility tailored to the client’s needs and a deal team that sees it through from start to finish, we helped unlock the value in the business and keep momentum going.
From first enquiry to payout, we bring the flexibility, speed and service that make a real difference. Discover our funding solutions here and find out more about our referral scheme here.
