Forging a facility for an MBI

The Challenge

Owner Ventures Managers (OVM) sought to acquire a leading metal distributor due to a retirement sale. The metal distributor has been trading for over 20 years and during that time established globally with a solid reputation.

The Solution

OVM Group sought a facility that would enable the acquisition. Praetura Commercial Finance structured a package which includes confidential invoice finance, inventory funding, and a cash-flow loan – ensuring both the acquisition and a strong working capital base for future growth. OVM Group are excited to add the business to their portfolio.

The Transformation

The transaction was complex and required a considerable amount of commerciality and legal expertise to ensure the deal completed ahead of the tax year-end.

Jeff Greenfield, Sales Director (South), commented: “From receipt of exclusivity, the funding was in place within two weeks. We’re proud to have supported OVM and grateful to everyone involved who helped make it happen.” 

Alun Lewis, Portfolio Director, Owner Venture Managers added: “A huge thank you to Praetura for moving quickly and flexibility throughout the process – this wouldn’t have happened without you. And thanks to Ricky and all parties involved. We’re excited for the future of the latest addition to the OVM portfolio.”

The deal was introduced by Ricky Shaifer at Plexus Finance. Jenny Chapman and David Gledhill at Bermans provided legal advice for Praetura, whilst Richard Murrall at Machins Solicitors (Luton) advised OVM. Hilton Baird provide AR diligence and Hilco provided inventory diligence.