I am very pleased to announce the recent sale on behalf of its clients of a Nottingham based aluminium windows and curtain walling manufacturer for an initial consideration of £2.3m. http://www.amberglobe.co.uk/sales.aspx
This is our biggest deal since the banking crisis and I hope is a sign of recovering confidence in the business sales market. The transaction was a Management Buy-Out and Buy-In and was put together with a combination of bank debt and equity provided by both the incoming and the existing management. It has been a very long and drawn out process getting a bank to commit to the deal but we got there in the end. The deal really only happened because the vendors were prepared to take a sensible, realistic and helpful approach. I have to say that despite what is printed in the papers it is still incredibly difficult to raise debt on business purchases http://www.amberglobe.co.uk/index.aspx and until bank funding becomes easier the market conditions will remain tough. We are literally swamped with buyers looking for good well priced business all over the country http://www.amberglobe.co.uk/search.aspx and if the banks do honour their commitment to Project Merlin then I would hope that this deal will be the first of many!
Rupert Cattell
http://www.amberglobe.co.uk/
