Get in touch
TVAF 7 West Mills Yard, Newbury, Berkshire, RG14 5LP
We were approached by a client who already had a successful bus and coach business, but he was looking to expand through acquisition of another similar business – a management buy-in. Once a suitable business was identified and a sale price was agreed, Thames Valley Asset Finance looked at ways we could fund the purchase of this business for our new client. The purchaser didn’t have the funds available to finance both the business and the assets, so we set up a ‘sale and buy back.’ As our client purchased his new business, he used the assets from the company he had just purchased in order to fund the acquisition.
In total, we secured the finance for £375,000 to allow our client to purchase both the business and the assets in order to fund the purchase of the business. To facilitate a complex arrangement such as this, we arranged for an independent valuation of the coach fleet and used a specialist lender with significant experience in the legalities associated with a management buy-in.
This included their in-house valuers, plus a legal team who worked with the vendor and purchaser’s legal team. A great result for two local business owners – one who wanted to grow his business and another who wanted to retire!