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The deal – £1m Funding Facility
E Corrugated LTD wanted us to refinance two of their Emba corrugated box packaging lines to enable the joint shareholder to acquire full ownership of the company.
Finance the purchase of a 1998 Emba corrugated box packaging line, imported from Spain and paid for in Euros with stage payments.
Why did the client use PMD? – High Street banks wouldn’t support either – i) the refinance isn’t a facility they offer ii) they said the Emba was not fundable. We were able to use two funders from our panel to structure this deal on terms suitable to the client.
What will this do for their business? Facilitate the share purchase and provide greater capacity, which will allow them to enter new markets and support their ambitious growth plans.
E Corrugated LTD comments – ‘PMD showed tremendous flexibility in arranging both transactions. They were easy to deal with and their terms were in line with our needs’