A vital component Pacer International Limited specialises in supplying optoelectronic components and flat-panel displays to worldwide sectors. When the company’s majority stakeholders gave the management team the opportunity to buy a stake in the equity, Baker Tilly Corporate Finance LLP introduced the team to Centric. “Our initial contact with Centric was with the directors”, said John Davies, Pacer’s financial director. “They quickly provided a
Andrew believes it’s from this very first meeting that Centric’s experience kicks into action: “With our combined
‘’At Centric, the people are not just following a rule book. They are not a large institution, but are experienced people you can relate to and trust. Ultimately, it feels right – Centric is on our side and above all, we feel their people want us to succeed.’’ Neil Rosenthal, Fieldens Ltd
management team experience in asset- based lending spanning many years, we’re confident we can add value to
Giving the green light When high AIM listing costs prompted a management buy-out at Forest Traffic Signals Limited, RCA Corporate Finance introduced the company to Centric. “We met with two of Centric’s directors and were impressed from the start,” said Ross Williams, managing director of Forest Traffic Signals. “They made quick decisions, did what they said they’d do, and were professional and responsive.” Centric structured a two-stage deal comprising a confidential invoice discounting facility of £750,000 to support the business before the MBO, and a further £2m facility to fund the acquisition. “The previous situation wasn’t happy for anyone,” said Ross. “Centric Commercial Finance has unlocked the value all round.”
revolving invoice discounting facility and cashflow loan, which has enabled us to build on our existing base.” “Centric understood the business, developed a strong client relationship and executed on the key deliverables,” said Dan Buchan, director at Baker Tilly. “This is the third deal we have closed with Centric, we welcomed Centric’s responsive and commercial approach, and look forward to working with them again.”
every business we work with. While the market focus has been on refinancing existing facilities, we’re also increasingly funding event-driven transactions including acquisitions, management buy- outs and buy-ins and, more recently, public-to-private deals. Ultimately, as decision makers, we give clients our personal attention, looking beyond the balance sheet, seeing the company’s true potential, and turning around deals extremely quickly.” As Tim concluded: ‘’Speed, experience and lateral thinking will enable Centric to deliver even more. We have significant debt and equity facilities available and are keen to continue to support both our clients and prospective clients in 2011 and beyond.”
Exploring new channels
Three years on and Centric is still delivering more funding, certainty and
‘’As an ambitious, independent entrepreneurial company, we were seeking the same qualities from our lenders. This we found with the management team at Centric, whom we have worked with before.’’
Jeff Eisenberg, Riwal Ltd
has kept its promises to businesses. We look forward to tracking this business over the next 12 months.
Contact Centric Commercial Finance on 020 8603 2900 or
info@centriccf.com
Gigawave Limited – a specialist Radio Frequency company – was surprised to discover its lender planned to restructure and reduce its existing finance package. Litmus Advisory put the company in touch with Centric. “Ours isn’t an easily understood industry but Centric listened and cottoned on quickly,” said Henry Barczynski, Gigawave’s chairman. “We felt they shared our vision for expansion and we had confidence we could work with them.” Centric designed a £1,750,000 asset-based lending transaction, comprising an invoice discounting facility and using the company’s bespoke output to support stock loans. “In a short space of time, Centric has given me the confidence that there is a world outside banking,” said Henry. “With our funding settled, we’re looking forward to a period of growth.”
Business Money November/December 2010 35
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