A leading acquisitions group saw a prime opportunity to purchase a well-established plumbing and heating contractors in Scotland as part of its ambitious UK-wide buy and build strategy. The business, which has enjoyed strong year-on-year growth works with household-name national developers and incorporates renewable technologies as an integral part of its services.
Having identified a target business that would meet their criteria, the acquisitions specialists approached Praetura Commercial Finance to provide a bespoke funding solution. The acquisitions group secured a £1,500,000 confidential invoice discounting facility from Praetura Commercial Finance to purchase 100% of the equity as well as creating the optimal level of additional working capital to drive the business forward following completion.
Stuart Bates, Commercial Director of Praetura Commercial Finance, who structured and delivered the transaction comments: "With such a well-planned and progressive buy and build strategy, the team is in an excellent position to grow the business substantially - both organically and via further synergistic acquisitions. The business has a highly experienced and professional team with a consistent track record of delivering profitable growth and excellent customer retention. We look forward to working with the team on their next acquisition.”