The Company, which operates in the TV and Film camera hire and post production sector, turns over circa £6 million. The challenge of raising additional working capital to meet increased demand put significant pressure on cash flow.
Entertainment. Capital & Refinancing
The Company, which operate in the TV and Film camera hire and post production sector, turned over circa £6 million per annum. Though looking at a growing business, they faced a challenge of raising additional working capital to meet increasing demand, which was putting significant pressure on cash flow. ReSolve was sought out as an ideal partner to help the company through this transition and was introduced to the Company by a friend of the owners just before Christmas 2015.
ReSolve undertook accelerated due diligence and made an offer to provide a term loan refinance facility and the necessary additional working capital facilities within the timeframes needed. The transaction completed seven days later. This was an opportunity for ReSolve to challenge its team to deliver a positive outcome in a tight timeframe.
Commenting on the transaction the managing director said, “ReSolve immediately understood our business and the issues we faced and then worked tirelessly to ensure the transaction completed quickly so we can now focus on our clients growing needs.”
Simon Harris of ReSolve commented, “We recognise that this is an exciting time for a company that is at the forefront of technology when it comes to cameras and post production services. The executive team shares our passion for customer service and for being best in class. In 2017 we continue to support them in helping them achieve their objectives, working with the management team with renewed focus on their post production capability.”