Traditional values : Modern solutions

Visit us on Facebook
Visit us on Facebook
 
Visit us on LinkedIn
Visit us on LinkedIn
 
Visit us on Twitter
Visit us on Twitter

Practice Part of a National Chain of Accountants - Acquisition Funding

Sector: ACCOUNTANTS | Value: £96,300
Equipment type: ACQUISITION FUNDING | Term: 5 YEARS

We helped an accountancy practice obtain funding to support a drive of practice acquisitions.

Problem:

A practice in the South West of England who are part of a national chain of accountants in the UK were looking for funding to support a drive of practice acquisitions. When one of the offices failed to perform to expectations, this ultimately hit cash flow.

 

Approach:

Bathgate were introduced to the client by a common director of an existing Bathgate client. We met with the director for a coffee locally in Liverpool and he mentioned his involvement with a number of practices within the group. He told us that a practice in the South West had made recent acquisitions and was looking for an injection in working capital to support their growth. Due to Bathgate's relationship with the Liverpool office, we were recommended to help source a solution.

 

Solution:

We secured a loan over 5 years via a peer lender at a competitive fixed rate, with the added benefit and ability to settle the agreement early if required without incurring any penalties.