The company wanted to purchase a similar firm nearby in order to establish a wider presence and reduce competition in the area.
The acquisition required a sizeable initial lump sum to secure the agreement, so the family-owned firm looked for partial funding instead of investing all its hard-earned cash.
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The team at UTB was provided with a comprehensive proposal from the introducing broker, which evidenced that the borrowing firm and the one set to be acquired were profitable, solvent and not heavily exposed to other debt.
The terms of the sale agreement were also reviewed by the team at UTB, which was happy that the merging of the firms had a high chance of success.
Following this, UTB was able to provide the client with a £60,000 loan, with the requested three-year term, which enabled the firm to complete the acquisition.
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