|Client:||AC Plastics Limited|
|Service:||Confidential Invoice Discounting, Property Term Loan|
|Outcome:||Acquisition and working capital facility|
AC Plastics is a well-established plastic injection moulding business whose current owners were looking to transfer the ownership of the business to an Employee Ownership Trust (EOT).
Praetura Commercial Finance worked with the team to raise the required funding levels by combining an invoice discounting facility and property term loan with asset finance.
The deal was structured to facilitate the transfer of ownership to an EOT over a 10-year period, refinance existing credit lines and provide an injection of working capital to assist with the day-to-day running of the business.
Chris Marsden, director, commented: “Praetura Commercial Finance have been really supportive during our first 12 months working with them. Despite an unexpected incident that led to a challenging period for our business, Praetura’s support never wavered. Regular communication and the right input and support where needed set their team apart. We’re now back on track and have exciting plans for the future. This is in part due to Praetura’s response, which was calm, collaborative and practical – a response you would expect from someone you work with in true partnership.”