6


news


There’s nothing that says you have to use envelopes to send offers or newsletters to your customers. At SOLO


www.solo-uk.com 0118 941 0101


we’ve packed letters into boxes, bags, tubs, tubes, filmcans and bottles. We’ve enclosed brussel sprouts, pennies, sand and slippers, tickets, letters brochures, shower heads, stickers and stress-balls!


If it needs to be sourced, assembled, packed or prepared... Talk to the packaging and enclosing professionals at SOLO.


Leumi ABL supports management buyin of Cooper Callas


Cooper Callas, the Oxfordshire- based importer of bathrooms and bathroom furniture, has been supported by Leumi ABL with an £8.5 million asset-based lending facility.


The deal was introduced to Leumi ABL by HMT Corporate Finance which was advising a management buyin team led by Philip Carr, now managing director at Cooper Callas.


The ABL facility includes confidential invoice discounting, stock finance, a term loan and trade finance. The funding replaces the client’s previous invoice discounting facility and will help improve working capital as well


as support the acquisition. The size and structure of the Leumi ABL line will allow for ample growth.


Andrew Thomson, partner at HMT Corporate Finance, commented: “We ran a competitive tendering process for the funding and received a number of offers which we shortlisted to three. Leumi ABL stood out as the most flexible and competitive and, having worked with them a number of times before, we were confident in their ability to deliver on the terms offered. Leumi invested a lot of time getting to understand the requirements of the business and


NEXT MONTH NEXT MONTH NEXT MONTH


In the February issue of The Business Magazine


Meetings & Your Business Locations for meetings and corporate events in 2015


Southern Tech 100 We unveil the new list – are you in the top 100?


Funding Your Business


More choices than ever before, but is finance still hard to get?


HR Focus


People are the focus of growing businesses, but where are the skills gaps?


To participate in these features email David Murray at david@elcot.co.uk or Dan Teuton at dan@elcot.co.uk


www.businessmag.co.uk


provided both CID and a revolving stock finance so that amortisation could be minimised.”


Carr commented: “The Leumi team invested significant time at regional and board level to fully engage with our vision for Cooper Callas. Through continuous dialogue and a real commitment to getting the deal done, Jonathan Hughes and Phil Woodward were without doubt our preferred provider.”


Jonathan Hughes, regional sales director at Leumi ABL, was clear about why Leumi won the deal: “Competition was intense but


we stood out by putting together the best overall package. The Leumi stock finance facility revolves which suits the clients’ specific requirements, whereas others wanted term debt that amortises too quickly and doesn’t offer the flexibility we could provide.


“We understand the importance of building strong relationships from the beginning and I met Philip Carr several times. Phil Woodward, managing director at Leumi ABL, also met him demonstrating director-level involvement at Leumi, and ensuring we fully understood the strategy post completion. The strength of our offer was supported by a swift credit process which helped to close the deal.”


Details: www.leumiabl.co.uk


BDO LLP posts 42% increase in operating profits


Accountancy and business advisory firm BDO has announced a 27% increase in revenues and a 42% increase in operating profits as it published its 2013/14 annual results.


The firm saw UK turnover increase to £384 million and operating profit grow to £78m. The 2013/14 results are the first to fully reflect BDO’s merger with PKF in April 2013.


All three of BDO’s main business areas showed substantial growth. The audit business increased by 19% to £128m; the tax business grew by 21% to £99m; and BDO’s advisory business grew by 39% to £157m. It has also promoted more than 800 people across the business this year.


BDO remains the leading auditor for AIM businesses and it currently acts for around one third of the FTSE 350 in an advisory capacity, which the firm says it wants to “boost to nearer 50% in the next five years”.


International business continues to be a significant source of income for BDO with clients ambitious to expand abroad.


Looking ahead, BDO was confident about long-term growth and investment. Simon Michaels, managing partner at BDO added: “We are not complacent about the future and accept that a sluggish outlook in the global economy may have an adverse impact at home. However, we firmly believe that BDO is very well placed to continue to see growth into 2015. We have the strongest balance sheet in the mid-tier which gives us the financial stability to invest for the long term. This has enabled us to invest in new technology and services for our clients which will further strengthen us as we go forward.


“It has been a great year for our firm and I believe that 2015 will bring increased opportunity for BDO, our people and our clients.”


THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER14/JANUARY15


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64