ADVERTISING FEATURE COMMERCIAL BANKING
Strategic acquisition fuels Lo-Q’s ambitions
“Lo-Q is a rising star in an exciting sector and we’re very pleased to support them as their sole UK bank as they continue on an impressive international growth journey,”
DAVID SQUIRE, Relationship Director, Thames Valley, Lloyds Bank Commercial Banking
CUSTOMER: Lo–Q
LOCATION: South East
SECTOR: Technology
OUR SERVICE: Finance package to support growth
A
progressive outlook has been key to Lo-Q’s success in the dynamic leisure and entertainment
sector. Now, with the support of a $7.5m fi nance package from Lloyds Bank Commercial Banking, the company has seized an opportunity to accelerate its global growth journey. Berkshire-based Lo-Q was founded by
Leonard Sim following a trip to a Florida theme park, and its success mirrors the great British tradition of innovation and entrepreneurialism. Frustrated by the queuing times he experienced in Florida, Leonard pioneered a dynamic virtual queuing concept that has become the cornerstone of a highly progressive company with active subsidiaries in the US and Canada. Their systems are currently deployed in more than 35 of the world’s largest theme parks and water parks. Lo-Q recently acquired accesso,
“From the fi rst meeting I’ve been delighted with the high levels of proactivity, pragmatism and enthusiasm we’ve seen from the Lloyds Bank team.”
TOM BURNET, CEO, Lo-Q
a leading US ticketing and e-commerce business. The acquisition has created a platform for even greater growth and presented a signifi cant strategic opportunity for Lo-Q. “The acquisition undoubtedly represents a key stage in our global development, offering an opportunity to leverage our global standing” says Lo-Q Finance Director John Alder.
lendingforbusiness.com
Lloyds Bank is a trading name of Lloyds TSB Bank plc, Lloyds TSB Scotland plc and Bank of Scotland plc. Lloyds TSB Bank plc. Registered Offi ce: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Lloyds TSB Scotland plc. Registered Offi ce: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland no. SC95237. Bank of Scotland plc. Registered Offi ce: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Authorised and regulated by the Financial Services Authority under registration numbers 119278, 191240 and 169628 respectively.
Lo-Q opted to explore acquisition fi nance as a means to support an effi cient capital structure and maximise shareholder value. “Lloyds Bank expressed immediate interest and put a strong team in place to deliver competitive indicative and credit-backed proposals that supported our transaction timetable,” says John. “They were very accommodating in offering a US dollar denominated facility. As the majority of our business is in North America we have a surplus dollar exposure, and this provides a natural hedge.” As winner of a Queens Award for
International Trade in 2011, Lo-Q builds on strong foundations with its growth ambitions, and continues to look to new markets and M&A opportunities, backed by an evolving product offering and a strong relationship with Lloyds Bank. “It’s an interesting time for Lo-Q,” John concludes. “We’re delighted to be working with a bank supporting a British technology company delivering global solutions to the leisure and entertainment sector. We look forward to developing a long term relationship with Lloyds Bank as we continue the Lo-Q success story.” For further information on how lending
from Lloyds Bank Commercial Banking can support your business growth plans, please visit
lloydsbankcommercial.com
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