Case Study: Precision Engineering Company
The client need
A well-established precision engineering SME based in South Wales were introduced to Davenham Asset Finance by Steve Richardson of Funding Options. With over 20 years’ experience of high quality, high and low volume production, their directors had already made significant investment to ensure that their plant and equipment was capable of satisfying customer requirements in both quality and volume. When they approached Funding Options, they were at a stage of business where they needed to refinance multiple assets within the business to help generate further working capital. The team at Davenham headed up by Paul Burke, were considered the best asset finance provider for the business and introduced by Funding Options, given their experience, capabilities, and collaborative approach.
The Davenham solution
In addition to asset refinance for working capital, equity release was also required from a number of existing finance agreements, which required Davenham to set up a complicated transaction of a multi-funder consolidation into the deal. This provided the most convenient result, with all new repayments being managed by one central point - Davenham. Despite the complex nature of the deal, it resulted in a lend value of approximately £60k, with the entire process completed to the highest standard by the Davenham team through their flexible, partnership approach.
Davenham put in a high level of work, using their innovation and creativity to structure a deal to suit the needs of the business, which in turn made the course of the transaction much easier for the client - something of high priority to Davenham and Funding Options as the intermediary. The deal was a rewarding venture for Paul Burke at Davenham, knowing that the funds raised were used to thrust the business forward and allowing them to further establish themselves within their industry.
A well-established precision engineering SME based in South Wales were introduced to Davenham Asset Finance by Steve Richardson of Funding Options. With over 20 years’ experience of high quality, high and low volume production, their directors had already made significant investment to ensure that their plant and equipment was capable of satisfying customer requirements in both quality and volume. When they approached Funding Options, they were at a stage of business where they needed to refinance multiple assets within the business to help generate further working capital. The team at Davenham headed up by Paul Burke, were considered the best asset finance provider for the business and introduced by Funding Options, given their experience, capabilities, and collaborative approach.
The Davenham solution
In addition to asset refinance for working capital, equity release was also required from a number of existing finance agreements, which required Davenham to set up a complicated transaction of a multi-funder consolidation into the deal. This provided the most convenient result, with all new repayments being managed by one central point - Davenham. Despite the complex nature of the deal, it resulted in a lend value of approximately £60k, with the entire process completed to the highest standard by the Davenham team through their flexible, partnership approach.
Davenham put in a high level of work, using their innovation and creativity to structure a deal to suit the needs of the business, which in turn made the course of the transaction much easier for the client - something of high priority to Davenham and Funding Options as the intermediary. The deal was a rewarding venture for Paul Burke at Davenham, knowing that the funds raised were used to thrust the business forward and allowing them to further establish themselves within their industry.