Leumi ABL Client Case study - Dodson & Horrell Group
Leumi ABL completes financing deal with Dodson & Horrell
Leumi ABL completes financing deal with Dodson & Horrell
Eighty years ago Dodson & Horrell Group began developing and producing the best possible animal feed on the market. The business has now grown to become one of the UK’s most trusted leading horse and pet food suppliers.
Dodson & Horrell has recently refinanced with Leumi ABL via a structured £14.5m ABL facility to support future growth plans.
Richard Anderson, Managing Director at Dodson & Horrell, commented: “We were clear from the outset that working with an asset based lender would enable the business to secure the right facilities for investment and growth. After speaking with contacts within the professional community we contacted a select number of recommended ABL’s and from the very outset Leumi ABL set a pace and responsiveness that stood them out from the competition. Throughout the process our Regional Sales Director was always in contact letting us know what was happening, breaking down the options and offering thoughts on how to structure the funding to best suit our current business needs. His personable approach struck a chord early on and when backed up by a well thought through debt package at really competitive prices we were sold. During the process our finance team were introduced to the wider Leumi support team who would ultimately take on the day to day management of our account, the training and support they offered coupled with a feeling they understood our business instantly added to our confidence that we had found the right partner. We look forward to growing our business with the support of Leumi and investing in innovative product development to keep ourselves at the forefront of our markets.”
John Walsh, Leumi ABL Regional Sales Director, added: “The structure of our ABL package provides a solid funding base from which Dodson & Horrell can drive future growth aspirations. Once again we were able to structure the deal and demonstrate our refreshing approach, flexibility and timely response, enabling Leumi ABL to be the preferred funding partner.”
Leumi ABL completes £30m deal to support the acquisition of the UK’s number one commercial fleet management businessLEARN MORE
Leumi ABL has provided a £30m invoice discounting facility to support Aurelius Equity Opportunities’ acquisition of industry leading end-to-end commercial fleet management operator, BT Fleet Solutions from BT Group Plc.
Headquartered in Solihull, BT Fleet Solutions delivers a comprehensive suite of services to blue chip customers, via its national network. Established in 2002, BT Fleet Solutions employs around 950 staff around the UK, and manages more than 80,000 vehicles for over 26 blue chip customers across diversified industries.
Leumi’s £30m finance facility was used to complete the acquisition and will provide ongoing working capital.
The divestment of BT Fleet Solutions aligns with BT’s ongoing transformation programme and strategy of focusing on converged connectivity and services, with further investments in both its fixed and mobile networks via programmes such as full fibre and 5G.
This deal represents another example of Aurelius’ specialism in complex divestment processes. Commenting on the financing deal with Leumi ABL, Tristan Nagler, Managing Director of Aurelius in the UK, said: “We are delighted to be partnering with Leumi ABL once again. The team were highly professional throughout the transaction delivering a compelling financing structure that will meet the working capital needs of BT Fleet Solutions going forward. We are so excited about the growth prospects for BT Fleet Solutions and feel confident that Aurelius and Leumi ABL will work in tandem to maximise the many opportunities open to the business in the coming years.”
Rob Wakeford, Leumi ABL Regional Sales Director, added: “We are delighted to be supporting Aurelius and BT Fleet Solutions with a flexible invoice finance facility and look forward to working with the management team as they seek to maintain their market leading position and drive growth for the business.”
Leumi were advised by Crowell and Mooring (legal) and SIA Group (collateral due diligence).
Leumi ABL has completed a deal to support the acquisition and ongoing working capital of the Burden Group, by Caneda Foods.LEARN MORE
Leumi ABL has completed a deal to support the acquisition and ongoing working capital of the Burden Group, by Caneda Foods.
Leumi ABL has provided a £14m finance facility to support the acquisition of two businesses: James Burden and Cavendish Ships Stores.
The Burden Group is a diversified UK food distribution business with locations in London, Tonbridge, Fareham and Newcastle. It is the largest business operating in Smithfield Market, where it operates under the James Burden name and is one of the leading meat and poultry trading operations in the UK. Cavendish Ships Stores is a major supplier of food and beverages to the cruise ship market.
The deal sees Leumi ABL providing a £14m invoice discounting facility for the acquisition by Caneda Foods and to support a buy and build strategy in the food services sector.
Commenting on this first deal in their buy and build strategy, Paul Barbour, Caneda Foods Director, said: “Leumi ABL took the time to listen to our requirements and helped to make the process as straightforward as possible, offering a truly flexible funding package to support the acquisition and meet our working capital requirements. We were kept well informed at all stages of the deal process and this gave us reassurance. We look forward to ongoing support from Leumi ABL as we continue our growth plans while retaining the same focus on delivering high quality products to our customers.”
Rob Wakeford, Leumi ABL Regional Sales Director, added: “We are delighted to be working with Caneda Foods to support their acquisition of such a highly regarded and long established company.”
Leumi ABL completes £8.87m refinance deal with Real Good Food PlcLEARN MORE
Leumi ABL has supported Real Good Food Plc with a structured ABL package totalling £8.87m.
Real Good Food is a diversified food business serving a number of market sectors including retail, manufacturing, foodservice and export. The Company focuses on two main markets: cake decoration (Renshaw and Rainbow Dust Colours) and food ingredients (Brighter Foods).
The flexible funding from Leumi ABL comprises invoice finance, plant & machinery finance and a term loan facility.
Maribeth Keeling, CFO of Real Good Food, commented: “We are delighted with the support we have received from Leumi ABL in the form of the facilities, as we seek to normalise our facilities with a better balance of bank facilities and shareholder support. Leumi’s support underpins the work the Board has undertaken in streamlining the business units of Real Good Food in order to drive the Group towards consolidated profitability.
I would also like to thank our Major Shareholders for the financing they have provided over the past few years to ensure the financial survival of the Group as the Board has worked to turn RGF around.”
John Walsh, Leumi ABL Regional Sales Director, added: “The structure of our ABL package provides a solid funding base from which Real Good Food can expand and further prosper and we look forward to supporting the team. Once again we were able to structure the deal and demonstrate our refreshing approach, flexibility and timely response, enabling Leumi ABL to be the preferred funding partner.”
Leumi ABL completes refinance deal with Kings Secure TechnologiesLEARN MORE
Leumi ABL has supported Bradford-based Kings Secure Technologies with a refinance deal to assist with their growth strategy.
Kings Secure Technologies brings together cutting-edge technology and innovation across the security and fire sectors, designing and engineering solutions for risk mitigation. With over 50 years of successful trading history and an enviable client portfolio, they have a strong reputation in their market.
The £6m invoice finance facility from Leumi ABL will support the future growth of the Group as they seek to exploit new opportunities.
Neil Cossey, Group Finance Director at Kings Secure Technologies, worked closely with the Leumi ABL team throughout the deal process and was impressed by the flexibility they were able to offer: “Leumi ABL took the time to understand our business objectives and working capital requirements, and delivered what they promised. We feel confident we have a supportive funding partner as we take forward the considerable potential of Kings Secure Technologies.”
John Walsh, Leumi ABL Regional Sales Director, added: “Leumi are delighted to be supporting this forward thinking market leader in secure technologies. They have some ambitious and exciting growth plans that we are happy to support via our tailored, flexible invoice finance facility and we look forward to working with their team.”
Leumi ABL has completed a £12.725m deal with Kent-based Jablite and Styropack.LEARN MORE
Leumi ABL has completed a £12.725m deal with Kent-based Jablite and Styropack.
£40m turnover Jablite Holdings Limited is a leading UK manufacturer and supplier of Expanded Polystyrene products. Its two main trading subsidiaries, Jablite, specialists in large block mould production for insulation and civil engineering applications, and Styropack, focusing on shape moulding for products in a wide range of sectors, both required funding from Leumi ABL.
Established in 1972, Jablite has developed over the years through pioneering innovation in insulation products and now operates from five manufacturing sites across the UK. In 2015 a MBO was backed by Mobeus Equity Partners, and following the instigation of a growth plan the business turned to Leumi for increased working capital facilities.
The funding package incorporating an invoice finance facility, stock finance facility and a P&M facility from Leumi ABL will generate significant headroom above the incumbent invoice discounting facility.
Matt Groom, Finance Director at Jablite Styropack, commented: “We were really impressed with how easy Leumi ABL made the whole process. They seemed to understand our business from the beginning and dealt with any queries or questions in a prompt and efficient manner. This gave us the confidence that Leumi ABL would be the best partner for us.”
Leumi ABL Regional Sales Directors for London, Rob Wakeford and Martin Risman, completed the deal jointly. Commenting on the deal, Rob added: “Leumi ABL were considered from a wide tender of ABL providers and we are delighted to be working with Jablite and Styropack. Our relationship with the advisors and client management team has helped to ensure a smooth refinancing process and we look forward to supporting the management’s growth plan.”
Advisors on the transaction included JDC Corporate Finance, Eurolease, Addleshaw Goddard, Birketts and European Valuations.
Leumi ABL has completed a financing deal to support the next stage of growth of one of Britain’s leading importers, processors and distributors of timber products.LEARN MORE
Leumi ABL has completed a financing deal to support the next stage of growth of one of Britain’s leading importers, processors and distributors of timber products.
Snows Timber Ltd have been supplying merchants and manufacturers of timber and related products for the past 200 years and have now completed a Management Buy Out led by Managing Director, Ian Church.
Leumi ABL provided an invoice finance facility of £4m to support the MBO of c£20m turnover Snows Timber from the Vendor, Bradford and Sons Ltd, a £200m turnover building supplies business. The business has been undergoing a turnaround and will now be independently owned by the current management team.
Headquartered in Towcester, Northamptonshire, Snows Timber remains a national importer, processor and distributor of timber and timber products through its Andover and Mansfield Distribution Centres.
Commenting on the deal, Ian Church, Managing Director of Snows Timber, said: “Whilst we received several offers of finance we opted for Leumi because of their greater flexibility, total dedication to understanding our model and Jason Holland’s availability to help us complete on time.”
Jason Holland, Leumi ABL Midlands Regional Sales Director, added: “The team are well disciplined, know their sector extremely well and have good strategic plans for the business. Our facilities support their MBO objectives perfectly.”
BDO Corporate Finance acted as advisers and Gateley were legal advisers on the deal.
Leumi has provided ABL facilities of over £10m to DDD Ltd, a manufacturer and distributor of health and beauty brands globally via its Dendron and Fleet subsidiaries.LEARN MORE
Leumi has provided ABL facilities of over £10m to DDD Ltd, a manufacturer and distributor of health and beauty brands globally via its Dendron and Fleet subsidiaries.
The business has combined debtors, property and plant assets to provide funds for investment and growth at a time when the business is expanding internationally in both existing and new markets.
DDD also supplies many of the best known names on the UK high street with both own brand and branded product as it approaches its busiest time of year.
Jason Holland, regional Sales Director for Leumi ABL in the Midlands, commented: “This is a typical ABL deal where we were introduced by top ten accounting and advisory business, Moore Stephens, who had been advising the client on a range of issues which led to a refinancing of the Group. We essentially provided a bigger funding package and an ‘easier to deal with’ facility that was attractive to DDD.”
Charlie Wadsworth, Group CFO at DDD, commented: “Leumi have been great to work with in arriving at the right facility to enable significant investment into the business over the next several years. This is an important phase of growth for the DDD Group and we are really happy to be working with Leumi who are a helpful, flexible and collaborative partner.”
Leumi ABL has provided a £12.5m structured ABL and term loan facility to support the refinancing of Private Equity owned brands business, Vivona Brands. The refinancing provides a flexible funding package to support Vivona’s rapidly expanding international business.LEARN MORE
Leumi ABL has provided a £12.5m structured ABL and term loan facility to support the refinancing of Private Equity owned brands business, Vivona Brands. The refinancing provides a flexible funding package to support Vivona’s rapidly expanding international business.
Putney based Vivona Brands delivers on-trend beauty, wellbeing and lifestyle brands to global fast fashion and beauty savvy consumers through an international retail customer base extending to 80 countries
Inflexion, the award winning UK mid-market Private Equity house, invested originally in the business in 2012. Since then, revenues have increased more than threefold to in excess of £40m, with an international client list including several FTSE 250 and Nasdaq 100 Companies.
Simon Russell, Exec Chairman of Vivona Brands, said: “We are delighted to have secured this funding from Leumi ABL to support our continued growth. Leumi have taken the time to understand the intricacies of our business and the international market dynamics in which we operate and structured a facility to meet our requirements. We have already developed a close relationship with Leumi and look forward to their continued support.”
Martin Risman, Leumi ABL Regional Sales Director, commented: “It has been a complex process and extended transaction during which we appreciated working with highly committed management at Vivona Brands. The structure of our facilities, aligned to the sponsor support, provides an apposite funding base from which the business can continue to develop and further prosper.”
Legal advice to Leumi ABL was provided by Squire Patton Boggs and DWF acted for Vivona Brands.
Leumi ABL has provided a £7m Asset Based Lending funding line to Framptons, the £43m turnover, Shepton Mallet based manufacturer of egg products and processor of liquid products, comprising debtor finance, plant finance and term loan.LEARN MORE
Leumi ABL has provided a £7m Asset Based Lending funding line to Framptons, the £43m turnover, Shepton Mallet based manufacturer of egg products and processor of liquid products, comprising debtor finance, plant finance and term loan.
The funds enable Framptons, which was bought by the current team in an MBO in 2014, to invest in further new product development for bakery and food service customers and for specific capital expenditure projects – money that was unavailable from their clearing bank.
Jason Holland, Regional Sales Director in the Midlands, commented: “This is a typical ABL deal for us. Framptons is a long established business in the South West which continues to grow and the existing clearing bank were unable to provide the level of support required. It is a well-controlled business with strategic direction in a particularly lively sector.”
Allan Staples, Finance Director at Framptons, said: “We had discussions with other finance providers but Leumi ABL were very proactive in helping us through the process. They worked closely with us to understand our requirements and were keen to find a solution that would work for our business. They were also rigorous in making sure everything was in place so that the deal could be finalised as smoothly and promptly as possible.”
The re-finance was introduced by Barry Lee and Stuart Hands at Translink Corporate Finance, a leading independent M&A and corporate advisory firm with a focus on UK and cross-border deals.
This comes hot on the heels of a string of completions nationally by Leumi ABL, supporting a wide range of sectors.
Leumi ABL has provided a £multi million Invoice Discounting facility to support the growth of Biosite Systems, a supplier of biometric workforce management and site security solutions into the construction sector.LEARN MORE
Leumi ABL has provided a £multi million Invoice Discounting facility to support the growth of Biosite Systems, a supplier of biometric workforce management and site security solutions into the construction sector. Backed by Mobeus Equity Partners, Biosite provides technologically advanced fingerprint recognition devices and operationally enhancing control management systems. The Leumi facility provides flexible funding to support significant growth plans.
Based in the Midlands and established in 2011 by entrepreneurs, Dr Li Wang and Dr Greg Reynolds, the business has developed a unique algorithm for site worker control and received investment from Mobeus in 2016.
With a client base including many Construction Corporates, Biosite is at the forefront of contractor management and project efficiency in the sector. The patented low-grade fingerprint technology is complemented by a software system that allows customers to utilise the data collected from the access control platform to manage their workforce, in addition to providing broader security services including integrated CCTV, fire alarms and guarding.
Li Wang, Founder and Director of Biosite said: “We are delighted to have secured this funding from Leumi ABL to support our development plans. Leumi have taken the time to understand the nuances of our business and we look forward to building a very successful working relationship.”
Amit Hindocha, Investment Director at Mobeus Equity Partners, added: “We approached Leumi due to their ability to structure business-appropriate financing packages. Leumi has delivered a funding solution which will provide essential flexibility and support for Biosite’s growth ambitions.”
Martin Risman, Leumi ABL Regional Sales Director, commented: “Biosite is an exciting progressive business with great technology, an award-winning investor and a stand-out growth plan. We look forward to being involved in supporting the business in the next stage of its journey”.
Leumi ABL is pleased to announce that it has supported the MBO of two businesses, Steel Plate & Sections Limited and Stemcor Special Steels Limited from their holding company group.LEARN MORE
Leumi ABL supports MBO of Steel Products business with multi-ABL facility
Leumi ABL is pleased to announce that it has supported the MBO of two businesses, Steel Plate & Sections Limited and Stemcor Special Steels Limited from their holding company group. The management team was supported with investment from Breal Capital affiliates and secondary funding from Breal Zeta Limited.
Steel Plate & Sections and Stemcor Special Steels both sell speciality steel products to customers in the oil and gas sectors.
Leumi ABL provided finance to support the acquisition with an aggregate facility of £14.5m, comprising a £9m CID facility, £4.5m inventory facility and a £1m term loan.
Commenting on the deal, Brent Osborne of behalf of Breal Group said: “Leumi ABL’s proposal was attractive as it provided funding against all the business assets. Leumi worked with us to make sure completion was achieved in the required and challenging timeline, whilst really understanding the business.”
Robert Wakeford, Regional Sales Director at Leumi ABL said: “This is the second corporate carve out we have funded in April, and on both occasions it has been the certainty of delivery against a deadline that has been critical to the success of the deal.”
Hilco Valuation Services undertook the Accounts Receivable field exam and inventory appraisal work. Gunnercooke advised the companies. Squire Patton Boggs advised Leumi.
Leumi ABL has recently completed the £19m refinance of leading brand Whitworths Ltd on full Asset Based Lending facilities including CID, Stock and Term Loan.LEARN MORE
Leumi cracks dried fruit and nuts refinance
Leumi ABL has recently completed the £19m refinance of leading brand Whitworths Ltd on full Asset Based Lending facilities including CID, Stock and Term Loan.
The facility provides funding for investment in new plant, marketing, innovation and overseas expansion, in support of Whitworths’ long term plans for growth.
Mark Fairweather – CEO of Whitworths said: “The merger between Anatolia and Whitworths in May 2017 created the opportunity to invest in the growth of the Whitworths brands both in the UK and internationally, as well as investing in the appropriate packing facilities to meet the long term needs of our key retail customers and their brands.
“This funding provides Whitworths with the ability to build on its unique position in the market delivering supply chain integrity from producer to consumer on key areas of dried fruit. This is an exciting opportunity for Whitworths and one that will bring long term benefits to our consumers, customers and suppliers.”
Jason Holland, Regional Sales Director (Midlands) of Leumi ABL said: “We are delighted to support the leading name in dried fruit, nuts and seeds, in both own brand and private label markets. Management have a strong vision and are making great steps fulfilling customers’ requirements in both product range and service delivery. This can only enhance Whitworths’ reputation as the leading brand. Our comprehensive asset based lending facilities provide Whitworths with capital for growth and investment.”
Leumi ABL is pleased to have provided funding to support the acquisition of Birmingham based FGF, by Go Interiors, the largest independent specialist distributor in the construction interior sector.LEARN MORE
Leumi ABL supports growth of a £65m turnover building products Group
Leumi ABL is pleased to have provided funding to support the acquisition of Birmingham based FGF, by Go Interiors, the largest independent specialist distributor in the construction interior sector.
Founded in 2001, £35m turnover Go Interiors, headquartered in Hemel Hempstead, distributes dry lining, suspended ceiling, partitions and insulation systems. The business has featured in the Times Fast Track 100 and UK Hot 100, having built a strong reputation in the industry for its expertise and the benchmark-setting standard of customer service.
FGF, a family-run £25m+ turnover business founded in 1954, specialises in decorative cladding and facades, cutting, re-manufacturing and industrial insulation solutions. Over the last seven years, the business has restructured, supported by Leumi ABL, and has progressed well to a profitable position.
The acquisition offers the opportunity for both organisations to reach new markets and customers will benefit from a unique offering of products and services.
Commenting on the financing deal with Leumi ABL, Gerard Abbott-Drake, Director at Go Interiors, said: “Having spoken with a number of banks, the decision to go with Leumi ABL was an easy one. Their approach was simple and straightforward and the people making decisions had an entrepreneurial flair that was really refreshing. The team were extremely helpful and made the completion of the deal as uncomplicated as possible. I wouldn’t hesitate to recommend them.”
Leumi ABL completes £5.75m financing deal with Hider Food Imports Leumi ABL has supported one of the UK’s leading distributors of nuts and dried fruits, Hider Food Imports, with a multi-facility Asset Based Lending package.LEARN MORE
Hider Food Imports is the leading distributor of fine foods to the independent retail sector and has recently won two industry awards, including being voted number one by retailers in their sector-leading magazine for the fifth year.The family-owned business has operated from its HQ in Hull since 1965 and continuing growth plans prompted the business to seek a new flexible Asset Based Lender who could support their working capital requirements in the short, medium and long-term. Leumi ABL provided a facility comprising of £5.75m invoice discounting, plant and machinery finance and a stock finance facility.Duncan Hider, Managing Director at Hider Food Imports, commented: “After looking at various traditional funding partners and new lenders on the market, we were enthused by a more old style banking approach to lending. We use the term ‘old style’ in a positive way: not decision makers hiding behind relationship directors, but human beings with whom we could meet and who followed through on their verbal commitments.
“Receiving good recommendations from our trusted network about Leumi’s ability to deliver the finance required was very important to us. Throughout the process my fellow director and I received regular progress updates, whether it be positive or negative. Communication from Leumi ABL was strong, with face-to-face conversations backed up by phone and email. When we encountered challenges, solutions were explored quickly, and the information requested from us was standard information that was easily put together.
“Everyone we dealt with at Leumi ABL seemed to be aware of our requirements and helped to make the process as straightforward as possible. Yes, there were hiccups, and yes, things took longer than planned, but each barrier and delay was communicated well, and solutions worked on from both sides. There seemed to be a real team spirit within Leumi ABL and this gave us reassurance. We got the sense that decisions were made more quickly without long chains of management and approvals, taking into consideration discussions as well as numbers to really understand the business.
“In terms of fees, we had sensible discussions; Leumi ABL didn’t simply tell us what the cost was, they talked us through the proposals and listened and responded to our concerns. Their approach to us always came across positively, and very quickly we felt at ease to discuss issues openly. They viewed our business, our assets and then worked on a facility that fitted our requirements, without onerous covenants with a straightforward open approach, letting us concentrate on running the business.”
John Walsh, Leumi ABL Regional Sales Director in the North East & Yorkshire, comments: “We had a clear mandate on what was required and with the help of Hider’s professional team, we were able to structure the facility and demonstrate our refreshing approach, flexibility and timely response yet again enabling us to be the favoured funding partner.”
Leumi ABL completes £25m cross border ABL facility to support growing international recruitment business. Leumi ABL has completed a £25m facility for Red Commerce, a private equity owned international recruitment business.LEARN MORE
With its global headquarters in London, Red Commerce operates from eight offices in the UK, Germany, Switzerland, US and Brazil, supplying SAP consultants globally to meet the requirements of businesses seeking full-time staff or contingent staff.
Staff operating the specialist IT software system, SAP, are highly skilled and command high rates of pay, with an average of £500 per day being paid to them. This creates a large working capital requirement.
When Red Commerce’s high street bank failed to have the appetite to support its growth plans outside of the UK, Leumi ABL was able to step in and set up facilities in the UK, US, Germany and Switzerland. The package comprises of invoice discounting and an additional unbilled finance facility.
Red Commerce is majority owned by Dunedin, a mid-market private equity firm, which is currently investing in businesses from its £300m fund. Dunedin purchased Red in 2010 with Red commanding an enterprise value of £44m. Dunedin and the management team have a high growth strategy for the next three years: £90m turnover is forecast to grow to £189m in 2019.
Red Commerce is one of an increasing number of Leumi ABL deals supporting Private Equity. Leumi ABL has a specialist understanding of the PE market having completed many successful PE deals in recent years.
Rob Wakeford, Leumi ABL Regional Sales Director in London, comments: “We had a clear mandate on what was required. With the help of Red’s highly professional team we were able to structure the facility as it was initially envisioned and look forward to supporting Red Commerce’s international growth plans.”
Leumi ABL completes £8.5m Hoops and Shapes deal. Leumi ABL has supported Pasta Foods Ltd, a £28m turnover pasta and snacks manufacturing business, with a full asset based lending facility of £8.5m, comprising of Debtors, Stock, P & M and Term Loan facilities.LEARN MORE
Pasta Foods recently invested heavily in a brand new, industry leading manufacturing facility in Norwich to serve its global customer base in every continent. Leumi ABL provided facilities to replace the existing clearing bank with headroom for growth. Customers include many of the leading pasta processing companies, including one very well-known brand name which uses character pasta shapes supplied by Pasta Foods.
Leumi ABL were delighted to partner with the existing investor shareholders and to back their future plans. Jason Holland, Regional Sales Director at Leumi ABL in the Midlands said: “This was a competitive tendering process where our refreshing approach, flexibility and timely response yet again enabled us to be the favoured partner. My thanks go to Peter Seary at Roythorne’s who initially put me in contact with the Company.”
Simon Webber, Director and shareholder at Pasta Foods, added: “We wanted to work with Leumi ABL due to the manner in which they are set up to support growth, particularly in a sector such as ours. They showed real understanding of the challenges in the food sector and the importance of having available cash. The ABL package, in particular the CID facility, will help greatly with our working capital requirements. Leumi ABL delivered the deal quickly and Jason was always available to offer support throughout the process.”
Additionally, Leumi were delighted to work with a wide range of Midlands’ advisers; Freeths for Leumi ABL, Prettys (Company) and Gateley (Bank). SIA undertook the asset valuations on behalf of Leumi ABL.