Potential was approached by an existing client who wished to buy out an engineering company. The bank funding was in place to finance the buy out. The problem was, that in addition to the acquisition cost, investment in new equipment was required to fulfil a contract secured just prior to the take over date.
The client was visited within 24 hours of the initial call and it was identified that 100% funding for the new equipment would be required, as the cash position was fairly tight in the immediate post acquisition period.
Potential took a flexible view of the overall situation and by taking security over some of the existing engineering machinery, Potential Asset Finance Limited was able to provide 100% leasing finance to assist the acquisition of the new machinery.
The company has prospered post buy out and several additional machines have since been acquired to support the growth of the business. |