Ultimate Finance supports business with £110k asset finance facility

Ultimate Finance has provided a £110,000 asset finance facility to support a UK manufacturer and hire business specialising in luxury portable washrooms and cabins.

The funding helped the company refinance specialist equipment while completing a multi-part transaction that included the acquisition of a competitor and the sale of existing assets to a franchisee.

The business, which operates in the events and hospitality supply chain, required a refinance facility to release capital and support cashflow. However, during the process the transaction became more complex when the client decided to acquire another company and refinance newly purchased assets at the same time.

The deal was introduced to Ultimate Finance by Tim Hampton of HamptonGreen Finance Ltd, who worked with regional director Jamie Glenn to structure the facility.

Valuing the specialist equipment was a key part of the transaction, as many lenders struggle to assess niche assets such as luxury portable washrooms and cabins. Ultimate Finance carried out inspections across two sites and worked to establish a clear resale market for the equipment.

The structure of the deal also had to adapt as the acquisition developed. The refinance and sale of existing units were required to help fund the purchase of the competitor’s business, while the newly acquired assets also needed to be valued and inspected before drawdown.

Despite the complexity, Ultimate Finance completed the refinancing with a five-year facility that enabled the client to release capital and complete the wider transaction.

Tim Hampton said the funding allowed the client to move forward with its plans. “We got it over the line. The client is delighted,” he said.

Reflecting on the introducer-led nature of the deal, Jamie Glenn said: “This was a proper introducer-led deal. When the goalposts moved, we moved with them, and we made sure the funding supported the client’s bigger plan rather than boxing it in.”

Glenn said that Ultimate Finance worked closely with the introducer and client throughout the process to ensure the structure remained workable as the deal evolved.