Simon Aylott-Cleaver and Andrew Edwards incorporated the business in 2013, delivering sewer renovation, CCTV solutions and drain repair services by using a variety of methods that rectify any structural sewer problem in a quick, efficient and cost effective manner.
The business had grown and had recently acquired another operator, enabling it to serve clients across the South West, West and East Midlands. The Directors identified a need to increase the availability of their working capital as the business grew and realised that the historic investment in equipment meant that equity could be released from this. However, due to the high volume of specialist, smaller items traditional lenders were unwilling to assist – that’s where we were different.
Simon Aylott-Cleaver, managing director, said:
“Genesis’ support enables us to secure our ongoing operations and gives us a solid foundation for future growth. Genesis’ creativity ensured that when issues arose they could structure solutions; we couldn’t have secured this funding without Genesis Asset Finance’s support.”
The deal was assisted by Martin James, director at Crystal Business Finance, who said:
“This deal wouldn’t have happened without Genesis Asset Finance. Other funders were unwilling to consider the assets Genesis refinanced and understand the nature of the business; I don’t believe that anyone else could have structured an appropriate funding package.”
Andrew Frost, business development manager at Genesis Asset Finance, said:
“At Genesis we’re proud of our flexibility and willingness to consider the bigger picture in ways that larger funders won’t. Working with incumbent funders and management we are delighted to have structured a bespoke funding package to support Colus’ ongoing operations and secure the company’s future growth.”