Ultimate Finance provides £1.3m facility to support acquisition

Ultimate Finance has provided a £1.3 million asset finance facility to a UK civil engineering business, releasing capital from its existing plant and machinery to support a time-critical acquisition.

The five-year refinance facility was secured against a portfolio of plant and machinery and enabled the business to generate additional liquidity without disrupting its day-to-day operations.

The client was progressing an acquisition as part of a wider programme to expand its portfolio across multiple sectors, but needed to raise the required funding within a short timeframe.

The deal was introduced to Ultimate Finance by Andy Thrower of Vaughans – The Broker Network, with Jamie Glenn, Regional Director at Ultimate Finance, working with the broker and client to structure the multi-asset refinance.

With a large number of assets involved, the transaction required individual valuations and detailed assessment while meeting the client’s acquisition timetable.

Thrower said: “When tasked with a significant refinance involving a large number of assets to facilitate an acquisition in a very short time frame, Ultimate Finance delivered.

“I was impressed with Jamie and the team’s willingness to prioritise the transaction to go through the necessary process whilst remaining commercial at all times. The communication was clear and they showed understanding on how to deliver one of the more complex transactions in Asset Finance.”

Ultimate Finance also arranged an asset inspection over a weekend to help keep the transaction on schedule.

Glenn said: “This was a strong example of what can be achieved when a quality introduction is matched by a responsive funding partner.

“Andy gave us a well-structured proposition, supported by clear documentation and the detail we needed to assess the opportunity quickly.

“That level of preparation made a real difference – alongside delivering an asset inspection over the weekend – enabled us to keep momentum in a time-critical transaction and deliver the £1.3m funding required within the client’s timeframe.”

The completed refinance released capital tied up in the civil engineering business’s existing plant and machinery, providing liquidity for its acquisition strategy while allowing it to retain use of the assets.

Ultimate Finance said the structure enabled the business to maintain momentum on the acquisition and its wider programme of acquisition-led growth.