deals 31 Leumi ABL: powering business growth Client case study
As we move towards the middle of the year, we are pleased to see many of our client companies growing, and we are seeing an increase in requests for the financing of M&A activity, writes Jonathan Hughes, regional sales director – Thames Valley & South, Leumi ABL
We are continuing to see companies refinancing, repaying overdrafts, acquisition finance and senior debt, using asset-based lending. Leumi ABL is able to offer greater flexibility than bank owned invoice discounters, and our bespoke approach to funding mid-market businesses is winning recognition everywhere.
Over the past 12 months the asset-based lending capability of Leumi ABL has supported a wide range of businesses. Recently a £3 million invoice finance facility was provided to Morris & Son (Holdings), one of the UK’s largest residual stock management specialists, to support further growth.
Increasing numbers of opportunities are benefiting from Leumi ABL’s ability to put in place a jointly structured funding facility with Bank Leumi (UK) plc. In the case of Lambson Building Products the firms worked together to provide a total facility of circa £10m.
Notwithstanding the continuing economic uncertainty, many dealmakers are deciding to press ahead with acquisitions, rather than wait for the recovery. Leumi ABL is working closely with the region’s businesses and introducers to ensure that financing facilities are structured creatively so as to enable acquisitions or growth, or both. One recent example is Brintons Carpets...
Details: Jonathan Hughes 07584-630762
jhughes@leumiabl.co.uk www.leumiabl.co.uk
Transatlantic sale of Delta Labelling finalised
Newbury-based international M&A specialist BCMS Corporate has finalised the £12.5 million transatlantic sale of leading clothing security label manufacturer Delta Labelling to US-based OpSec Security Group plc.
Founded in the mid-1990s by Jim Bowman, Delta Labelling designs, develops and supplies labels and brand protection products to some of the top clothing brands in the world. Its labels have been sold in many countries and used to protect garments for most of the major sporting events including the FIFA World Cup, World Cup Cricket, World Cup Rugby, the Olympics, and the Ryder Cup.
Today, Delta Labelling employs 11 people at its headquarters in Staffordshire together with a further 14 at its Far East subsidiary in Kowloon, Hong Kong.
The shareholders recently took the decision to identify a buyer for the business and approached BCMS Corporate for support. Interest in the company was unprecedented with over 60 companies expressing serious interest. The new owners are Denver-based OpSec Security Group, global leaders in anti-counterfeiting technologies as well as solutions and services for physical and online brand protection to over 300 companies across industry sectors and over 50 governments worldwide.
Jim Bowman, director of Delta Labelling, added: “We are extremely pleased to be joining forces with OpSec and the opportunity to offer brands an enhanced suite of solutions to ward off counterfeit and grey market goods across all industries.”
Delta Labelling is the third company sold by BCMS Corporate within the labelling sector in the past three years.
THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2012
Advanced Computer Software acquires Fabric Technologies
Advanced Computer Software Group plc, based in Surrey, and a leading provider of healthcare and business management software and services, announced the acquisition of London- based managed services provider, Fabric Technologies, for a total cash consideration of £4.6 million.
Fabric, which provides managed services and unified communication solutions to approximately 160 UK mid- market customers in banking and other professional services sectors, will be integrated over the coming months into the Group’s Advanced 365 Managed Services division based in London.
Vin Murria, chief executive of Advanced Computer Software Group, comments, “This acquisition forms part of the Group’s strategy to identify and acquire high quality complementary businesses to strengthen our 365 managed services division. Fabric’s market-leading offerings will help drive further cross- selling of managed services into the Group’s 7,000 strong customer base.”
The acquisition of Fabric provides a new unified communications offering to Advanced’s customer base. Unified communications brings together desktop phones, mobile phones, email, voicemail, SMS text messaging and instant messaging, ensuring that the person being contacted knows that someone is trying to reach them, regardless of communications channel and location.
The integration of Fabric into the Advanced 365 division also creates one of the UK’s biggest Microsoft partners.
www.businessmag.co.uk
Leumi ABL’s multi-asset ABL package supports turnaround
Leumi ABL has supported 229-year-old business, Brintons Carpets, with a multi-asset ABL package totalling over £11m, comprising debtor, stock and plant and machinery facilities.
Brintons is one of the world’s leading premium brand carpet manufacturers, producing primarily Axminster and Wilton carpets for the commercial and residential markets. Since setting up its first mill in 1783, Brintons was until September 2011 a family-run business. Years of successful growth saw the company patent its Axminster loom, pioneer the 80% wool 20% nylon blend for carpets, establish offices in India, the USA and Australia, and supply the largest ever carpet order in the world for Hong Kong Airport in 2009.
Today, the company’s manufacturing facilities in the UK, India and Portugal are among the most advanced in the world and under new ownership, there has been a substantial programme of operational restructuring providing greater efficiency. The company now manufactures carpet for its core markets in the hospitality, cruiseline, leisure and high quality residential sectors.
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