A traffic management company that was part of a larger group needed to seek additional funding so that they could release some of the equity tied up in their balance sheet to contribute towards a restructure of the other businesses within the group.
The restructure of the group was going to take some time in which to effect the turnaround and required additional cashflow. The group’s existing funders declined to assist due to the related party securities etc. They did not want to increase their exposure to the group at all.
The traffic management business in its own right was able to raise funds against their fixed assets through an alternative fixed asset funder and a much larger working capital facility with Lock Finance than their existing provider.
The alternative funders were able to secure their facilities specifically against the assets that they specialised in, trucks and receivables. We did not need to apply onerous lending conditions against the business and it allowed the shareholders breathing space to implement their restructure plan.

It was a great result for all concerned.