About the client
Our client, Philip Leitch, is a transport and haulage business investor.
With an entrepreneurial mindset, Philip is building a haulage network by acquisition that will run up and down the spine of the UK.
Why did the client need finance?
After completing the Dealmakers Academy, Philip was ready to make his first acquisition. He wanted to buy Wiltshire based JJ&S Transport.
While completing due diligence for the acquisition, Philip’s accountant flagged that he had been quoted for a finance solution that had excessively high arrangement fees – and introduced him to ABL to see how we could help.
How did ABL help?
Following our Finance Discovery & Delivery process, we took the time to review Philip’s business objectives and understand his acquisition strategy – before reviewing and then recommending the best commercial finance option to support his plans.
Instead of using a loan facility with high arrangement fees, we helped Philip use a leveraged buyout structure to raise the initial consideration through an invoice finance facility provided by Skipton Business Finance. This provided Philip with the funds to complete the transaction, while avoiding the high capital repayments of a loan facility.
Using invoice finance also left the assets of the business unincumbered in case any additional finance was required for working capital post the transaction (during the riskiest period) – and is an ideal finance facility that lets Philip utilise business assets to support his acquisition strategy.
What does the future look like?
Our team is now working with Philip on his second acquisition - a haulage company in Scotland - utilising the assets from the first acquisition to secure the finance for his next purchase.
A word from the client…
“A big thanks to the ABL team for helping me. I look forward to working with you on future acquisitions as part of the team.” – Philip Leitch
If you want to know more about how we help investors, the ABL team is available on 01274 965356 or drop us an email
If you want to find out further information about this topic you can get in touch with Alex via email or call her on 07903 769 037 to talk through your options.