ReSolve secures the successful repayment of its investment in a plastic injection moulding company.
UK Engineering. 250 Jobs Saved
In 2015 ReSolve was approached by a solicitor whose client, Javelin Plastics in the engineering sector was facing administration due to growing creditor pressure and a lack of working capital. Whilst the Company had a strong trading history, its management team was struggling to cope with recent growth, there was building pressure from creditors and its principal bank had lost patience and threatened to withdraw its support.
ReSolve undertook accelerated due diligence and completed a cash investment into the Company within two weeks.
As part of the investment a new interim management team was introduced to the Company by ReSolve which provided fresh impetus to the Company and the implementation of a number of key performance measures resulted in improved production efficiencies and financial performance. As a result of the successful turnaround the Company secured a new long-term finance solution which facilitated full repayment of the ReSolve facility.
The work with ReSolve directly resulted in the Company avoiding insolvency, saving around 250 jobs. Commenting on the outcome of the investment the Company’s Managing Director said “ReSolve provided a first class service throughout and the introduction of their experienced interim management team and fresh working capital helped to transform a business which was on the brink of administration. ReSolve’s expertise really shone through and I am looking forward to growing this business further together.”
Cameron Gunn of ReSolve commented “When the opportunity to invest in this passionate and dedicated team arose, we recognised there was a core business which, provided with the right support and direction, could thrive even in this challenging economic environment. The Company’s success boils down to hard work, determination and a keen eye for detail, and we will continue to help the team achieve its future objectives.”