A client approached us having identified well established logistics business for sale as the previous owner was looking to retire.
Whilst our client had little in the way of funds to acquire the business personally, they did provide us with a comprehensive schedule of trucks and trailers owned by the seller that, once completion had occurred, would be unencumbered of any finance.
Our equipment manager inspected and valued the fleet and it was established that, working with the sales agent and invoice discount provider, we could achieve 100% of the funds needed in order to complete the acquisition, whilst leaving sufficient working capital within the business to continue to trade successfully.
Finance Lease documentation was executed and funds of £125,000 + Vat were transferred to the buyers solicitor, who held them to order, pending completion.