This company is one of the UK’s fastest growing staycation management websites. With the number of new clients growing rapidly on a monthly basis, and a modern approach to technology, this holiday lettings company is operating competitively in a multi-million pound industry.
When the opportunity came to acquire a smaller competitor, the company’s broker reviewed the options. The business as a whole was too young in its life-cycle to approach the big funders, and the company did not want to give away any equity by seeking investment.
Therefore, when tasked with finding a funder for the acquisition finance of £750,000, their broker reached out to a number of funders, all of which had a real appetite to fund and support the client.
The company’s financials were complex, and required a bit of digging, but were ultimately quite straightforward. However, the final offers from the funders were either highly restrictive or unnecessarily complicated which would impinge further growth of the business.
Only Philip Knight of Asset Advantage took the time to understand not only the client and the proposition, but also their future plans. This meant he really understood the wider picture, and helped build a funding structure that worked for the transaction as well as the longer term needs of the client without impinging their future plans.
The broker and his client were pleased to receive a ‘sensible offer in a sensible time-scale’ which enabled the acquisition to go ahead.
If you are looking for funding for your client, contact Katie Dowse today:
