Our client has been a multi-franchise motorbike dealer that operated for over 40 years. One of the most respected and largest new bike dealers in the South East, recent years have been tough for sellers of new motorbikes right across the UK.
The founder and still 100% shareholder was introduced to us seeking urgent funding, being somewhere between financially stressed and distressed. Whilst the business was underpinned with good assets including freehold property, trading had been tough for years with losses racking up.
We reached out to a selective shortlist of investors within our investor network who we knew would meet the criteria for this opportunity. Seven investment parties came forward looking to learn more and meet our client. Meetings progressed rapidly, and as often happens one party stood out head & shoulders above the rest.
Heads of Terms were quickly agreed, followed by lengthy legals as all parties worked through the minutiae of a complex acquisition. From start to finish the project concluded within 4 months of take-on. We’d like to extend our thanks to all parties who stuck to their tasks and saw this one over the line.
At conclusion, our client has come away with financial security, free of PG’s on numerous short term loans and has a long term tenant in one of his properties.
Nick Young comments… “We’re delighted to announce this completion, partly for our client as noted above but also for the benefit of bikers across this part of the South East – I say this as one myself!”
