- Client: UK-Based Law Firm
- Loan Amount: Circa £3m
Enness was approached to support a well-established, multi-disciplined legal firm seeking to expand via various acquisitions. In addition, this loan would help the firm invest further by hiring new staff, improving its infrastructure, and boosting its marketing strategy, therefore stimulating growth.
Challenges around this case arise from large portions of their revenues being generated from very niche subsectors of law and the ability to service the debt, which is predicated upon future cashflows and the successful implementation of the proposed organic growth strategy. A key person within the firm was also planning their retirement, resulting in the need to bolster the board with a new external hire.
Enness, acting swiftly and with meticulous attention to detail, structured a bespoke debt package. This comprehensive package included staged term debt and a revolving facility for future acquisitions, ensuring the firm's financial stability and growth.
The repayment profile was structured to ease cashflow pressures over the coming years and in a way that suited the company's circumstances and business model.
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