Key Facts:
- Introducer: International corporate services provider
- Client: UK business in the education and specialist schooling industry
- Scenario: An international corporate services provider needed to source finance to help their client – a UK corporate – to expand their business.
- Requirements: An unsecured loan based on the future growth of the business
A corporate services provider needed to help a client raise finance to expand their education and specialist schooling business operating from South London. The corporate services provider had some experience raising debt, but given the corporate’s unusual requirements, they could not source a deal.
The company’s UBO had planned on selling the company for £11 million but ultimately decided to retain ownership to expand it further. The business needed an unsecured loan as there was no reliable security. Instead, they wanted to raise finance against the ongoing success of their business.
Enness knew a lender that specialised in funding businesses looking to grow. Enness worked exclusively with the corporate services provider to deliver the deal through a white-label offering rather than working with the UBO or the business directly. After discussing the client’s background and requirements with the corporate services provider, Enness negotiated a £2.5 million loan for the client on an unsecured basis. The loan allowed the client to buy out a 10% shareholder in the business and retain full control of the company. The remaining £1.4 million in loan capital went towards cash flow and capital expenditure to grow the business.
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