Premium consumer product manufacturer receives facility from Praetura Commercial Finance Group.

The Challenge

A manufacturer of a premium consumer product required a new funding partner to refinance two bilateral finance facilities, one of which had reached maturity. The well-established family-owned business also sought a larger and more commercial facility to support the next phase of their business development.

The Solution

Praetura Commercial Finance Group took the time to understand the client’s requirements and structured a flexible ABL facility which aligned more closely to their needs in addition to being more competitive.

The Transformation

Several external challenges arose which jeopardised the completion timeline, however, by working closely with Teneo and Bermans, Praetura Commercial Finance Group were able to resolve these and meet the client’s timescales.

Jeff Greenfield, Sales Director commented: “It was a pleasure to work with Chris Edwards and the Teneo team on this recently onboarded new client. The transaction had some challenging characteristics to overcome, specifically relating to the term debt. However Teneo acting for the company and our advisors, Bermans, navigated these enabling us to deliver the required quantum of funding across multiple asset classes in the timescale set out by the client.

“We were delighted to structure a facility which will ensure this long-standing family business receives the support they need to fulfil their growth plans.”

Chris Edwards, Managing Director, Teneo Financial Advisory commented: “Jeff and the team at Praetura quickly understood the client’s requirements and structured a flexible and competitive funding package, which met our objectives. We had good access to senior decision makers within the business and a strong level of communication, as we navigated deal issues. I would like to thank the team for all their help and support on this transaction.”