Simply, SME funder supporting British businesses to realise their potential, have recently supported a family-run grounds maintenance and landscape services provider based in West Sussex to complete a share purchase agreement (SPA).
The business owner had identified a successful grounds care company with significant growth potential under new ownership. In order to make the purchase possible, the buyer needed fast and flexible funding from a finance partner who could navigate the complexities of an SPA deal.
Working with broker partner, Martin Lightbrowne at OnPoint Finance, a specialist in SPA deals, Simply was brought on board to facilitate the agreement. We were able to lend £677,000 against 40 assets, including commercial vehicles, tractors, mowers, balers and vans, at 100% LTV through the Growth Guarantee Scheme, on the buyer’s preferred terms. Simply also acted as the valuer, ensuring transparency for all parties.
As speed was of high importance to the success of the deal, Martin carried out the asset inspection with just one days’ notice at 4am to avoid disruption to the business. And through our in-house expertise and technology, Simply’s broker development manager, Paul Roberts, alongside our operations and underwriting teams, steered multiple moving parts at pace to ensure fast activation and deal completion.
The deal came together smoothly, leaving the buyer, seller and lender all happy with the outcome. It’s a clear example of how Simply can turn a complex transaction into a straightforward process, enabling SMEs to move quickly to secure new growth opportunities.
Martin said of the deal:
It was incredible to see Paul Roberts and the Simply team come together to turn around a complex deal so fast! Before we came to Simply, the deal was at risk of falling through due to deadline constraints. So, when Paul said they would complete it in time, we took a leap of faith, and they didn’t let us down.
Multiple team members pulling late nights, with everyone from the front line to senior managers and directors working to get the deal funded at all costs. It was incredible to be a part of. It’s a deal I’ll never forget – and more importantly one our client will not.
Thanks for the outstanding work to all at Simply. We’ve got a client for life.”
If you’re looking for a tailored finance solution to support your business, we’d love to hear from you. Get in touch today to speak to one of our experts about how we can help.
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