The management team at a Blackpool-based gift and home accessory company has bought the business after securing the backing of Venture Structured Finance.
The management team at a Blackpool-based gift and home accessory company has bought the business after securing the backing of Venture Structured Finance.
The £2.2 million buy-out of Atelier Home and Gift, led by managing director Tim Hislop and head of finance Wayne Lawson, was supported by confidential invoice discounting, stock and cash flow loans provided by the asset-based lender.
Venture’s team was headed by regional director Patrick Wilkins, who said the firm was chosen to fund the deal following a competitive tendering process managed by Litmus Advisory.
“One element underpinning Litmus’ recommendation of Venture was the fact that we were prepared to offer a generous facility at competitive rates. We are always attracted to companies with a strong underlying business plan and clear assets against which to leverage finance, and Atelier certainly fulfilled this criteria.”
Venture Structured Finance is a division of Venture Finance, providing funding for businesses with a turnover of up to £200 million.
A financial package from Venture Structured Finance helps organisations to manage cash flow, purchase new machinery and stock, conduct a management buy-out or buy-in, merge with or acquire a new company or expand their operations.
Core services offered by Venture Structured Finance include invoice discounting, which releases ongoing capital back into a business, combined with cash flow loans, stock finance, property finance and plant & machinery finance.
