The funding from the alternative finance provider enabled the managing director of Firtitudo Ltd and database for business limited (dbfb) to acquire the remaining 45% of secure communications specialist dbfb and for the founder to exit.

However, halfway through the transaction process, the business faced an immediate requirement for growth capital to fund a substantial new order.

ThinCats accepted the case and structured a facility which included bullet repayments and fixed the repayment date to suit the business’s monthly cash flows.

Dbfb provides organisations with secure connectivity and communications, incorporating landlines, cloud services and mobile.

“What I really like about ThinCats is that they don’t hide away in an ivory tower,” said Simon Pickering, managing director at Firtitudo Ltd and dbfb.

“They are not faceless financiers; neither do they hide behind financial ratios and metrics.

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“They visited us to gain a good understanding of our business needs and pressures.”

Simon added: “Halfway through the management buyout, a superb opportunity arose for us to take on a very large new contract.

“As well as funding the share purchase, ThinCats ensured that we had increased transitional funding for growth, enabling us to take on the order swiftly and smoothly.”

Matthew Lawrence, loan origination manager at ThinCats, added: “Simon and his team have a very clear roadmap for the business and we are delighted to be playing our part in supporting them to achieve their ambitions in creating a world-class technology platform for business growth.

“In this fast-moving, digitally driven environment, businesses seeking to scale need lenders that possess the experience and short lines of communication to be able to pivot quickly.

“Our role is to create certainty of deal execution, even when events are changing dynamically around us.”