asset-based lending 33


Leumi ABL: providing robust financing solutions


Asset-based lending continues to be the preferred solution for both refinance and corporate finance transactions, according to Jonathan Hughes, regional sales director – Thames Valley and south at Leumi ABL


Leumi ABL is very active in the regional dealmaking community, assisting a range of business growth opportunities, most recently providing financing to support the management buyin of Eddingtons.


Eddingtons supplies innovative housewares products to retailers in the UK and continental Europe. The buyin team, headed by Roger Murphy, required additional funding to complement its investment equity and reviewed several different options. Through a third party contact it was recommended asset-based lending as an alternative and Leumi ABL specifically as a company that could meet its needs.


Roger Murphy, now MD at Eddingtons, comments: “From the very first meeting to outline our business plan and understand what Leumi ABL could offer, Jonathan Hughes impressed all of us with his detailed understanding of our requirements and reassurance that Leumi ABL could fulfil our needs through a combination of invoice discounting and stock finance. Throughout the inevitable highs and lows of the acquisition process Leumi ABL worked


alongside us as our funding partner, giving us reassurance with their flexibility and commercial understanding, reassurance that they wanted the deal to be completed, and providing the necessary support to ensure we got over the finishing line.”


Eddingtons is now progressing its strategic plans and Murphy adds: “These include possible acquisitions further down the road and our first call for a funding partner will be made to Leumi ABL.”


Hughes explains: “Eddingtons is a profitable and cash generative business, which historically had used an overdraft intermittently. The ABL package we put in place met the initial funding requirement to effect the transaction, with additional sums for working capital. Key to completion was an understanding of the forecasts, the seasonality and the willingness to do a little extra to get the deal away. This included our ability to offer stock finance as a separate discrete product. Timing was also critical and an additional cashflow facility was agreed by our credit committee in less than three days. The incoming management team bring


with them a wealth of experience and we very much look forward to supporting the growth of Eddingtons.”


Leumi ABL continues to work closely with the region’s businesses and their advisors to ensure that financing facilities are structured creatively so as to maximise growth opportunities.


Details: Jonathan Hughes 07584 630762 jhughes@leumiabl.co.uk www.leumiabl.co.uk


INVOICE FINANCE//STOCK//P&M//TRADE//PROPERTY


You build the business. We’ll build the confidence.


The flexibility and expertise of an independent, together with the strength and extended product range of its parent, Bank Leumi (UK) plc, make a winning combination. Specialising in structured ABL facilities up to £25m with exceptional levels of client service.


Manufacturer of graphics finishing & display products required funding for growth.


Leumi ABL provided £1.5m CID


+ £0.5m stock finance


Engineering services company required flexible funding to support growth plans.


Leumi ABL provided £2m CID facility


To find out more about the Leumi ABL approach to business call Jonathan Hughes on 07584 630762 or email jhughes@leumiabl.co.uk or visit www.leumiabl.co.uk


Brighton n London n Birmingham n Leeds n Manchester n Reading


ABL multi financial award winners 2011


ASSET BASED LENDER OF THE YEAR - UK, 2011


ASSET BASED LENDER OF THE YEAR - UK, 2011


ASSET BASED LENDER OF THE YEAR - UK, 2011


BEST ASSET BASED LENDING FIRM - UK, 2011


THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2012 00502 Leumi The Business Mag ½ page.indd 1


www.businessmag.co.uk 10/10/2012 10:27


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