Helping this Drainage Inspection business raise working capital funds.
We were introduced to a drainage inspection company, delivering sewer renovation, CCTV solutions and drain repair services which needed to raise additional working capital.
The business had historically grown by acquiring another operator, enabling it to serve clients across the South West, West and East Midlands. Having entered into a CVA, with a consequent change in payment terms from their debtors, the Directors identified a need to increase the availability of their working capital realised that the historic investment in equipment meant that equity could be released from this. However, due to the CVA and the high volume of specialist, smaller items traditional lenders were unwilling to assist – that’s where we were different.
The introducing finance broker commented 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.
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