CNC refinance funds a management buy-out

One of our specialist brokers had a long standing relationship with an established engineering company which had been built up by two Directors over many years. One of the Directors now wished to buy out his fellow Director to enable him to retire.

Our broker quickly identified three CNC machines which, based on his considerable experience in this sector, he estimated would offer us adequate security to raise the required funding. Our own initial desktop valuation confirmed that the broker’s estimation of the machine values were spot on.

A conditional acceptance was quickly offered, subject to a final inspection of the machines by the local UTB sales manager, and the relevant documentation was swiftly prepared and delivered to our broker for signing.

The deal was quickly documented and various terms and conditions of the transaction duly complied with to enable payment to be made and the management buy-out completed in the timescale required.

Loan Size: £500,000