Facility size: €6.7m
Product: IDeal™ invoice discounting
This business is an advanced player in the preprepared food industry, supplying high street retailers throughout the UK and internationally. Based in Ireland, the company was established in 1987 and has a history of innovating in the culinary space. The diversity of their products across meat, savoury and sweet, as well as a large vegetarian and vegan selection make them highly competitive. Building strong relationships within the sector and diversifying their range they have become an award-winning provider.
Following a complex acquisition, the company wanted to funnel investment into increasing production and efficiency. Our specialist team recommended an invoice discounting facility to ensure adequate financial headroom and support working capital requirements following the purchase. Responding to the increased market demand for their product, the management team has extensive skills and experience to take the business forward in this next phase of growth.
Requiring additional working capital to ensure seamless transition, and flexibility for the next stage of the business’s evolution, Close Brothers Invoice Finance is providing this facility. Releasing the value of any unpaid invoices for access to the working capital needed to maintain their current operations while pursuing growth.