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Refinance to Support a MBO

Updated: 14th February 2007 (AM)

Amount: £3,500,000

Following a request from one shareholder to sell his shares, our client initiated an MBO. In the first stage, they approached their bank who were unable to provide the necessary finance. Our client contacted us following a recommendation from their advisors.

The total consideration of £3,500,00 was raised as a combination of ledger, property and asset finance. The asset finance amounted to £1.5million and whilst our client had received an offer from an alterative provider, we were able to provide a more competitive facility saving our client over £200,000 of interest charges.