Ham Baker Group

Praetura Commercial Finance delivers £4,950,000 working capital deal for Ham Baker Group Limited against a pool of assets



The Challenge
Established in the 19th Century, Ham Baker Group Limited is a market leading organisation dedicated to the design and manufacture of innovative products, for the water, waste water and treatment sectors. Ham Baker is able to offer engineered solutions worldwide from its UK manufacturing base.

The investor management team recognised that Ham Baker had a substantial pool of assets that could be leveraged to generate a higher level of funding to propel their plans for increased organic growth. They took the decision to ‘refinance out’ the incumbent lender to extend the working capital lines of the business.

The Solution
Prateura Commercial Finance structured and delivered a £4,950,000 transaction to provide the level of headroom that Ham Baker required to meet its growth ambitions.

The asset based lending facility consisted of a £4,000,000 Confidential Invoice Discounting line, £350,000 Inventory revolver, £200,000 Plant and Machinery loan and a £400,000 short term cash flow strip.

Toby Arrowsmith, Director, Intrinsic Equity Ltd, said: “We knew from the outset that there would be a tight time pressure to complete the transaction and having met with the directors of Praetura Commercial Finance, we were very confident that they would be able to execute on the deal.”

“They quickly put themselves in prime position to support the transaction by committing to the funding requirement and jumped precisely on what needed to be done without delay. Their communication was excellent at all times and this was incredibly important to us given that speed was an essential element of this deal. They delivered what they said they would do and acted with integrity throughout.”

The Transformation
“We have restructured the business with new additions to strengthen the senior management team and have won a number of substantial new contracts which will provide a sustainable revenue stream for the future. Praetura Commercial Finance showed a real understanding of the challenges and opportunities facing the business and are very supportive of our ambitions.”

Stuart Bates, Commercial Director of Praetura Commercial Finance, commented: “We were delighted to partner with the investor team and to back Ham Baker’s plans for business growth. Our ability to work to tight timeframes to deliver this transaction and to communicate effectively throughout the process helped to make this deal a reality.”