Specialist Finance Solutions

Transcription

1 Bibby Financial Services Packington House 3-4 Horse Fair Banbury Oxon OX16 0AA t: f: e: w: Specialist Finance Solutions

2 CONTENTS Edward Rimmer, UK Chief Executive. Introduction 4-5 Invoice Discounting 6-7 Construction Finance 8-9 IT Finance International Trade Finance Export Factoring Recruitment Finance Our commitment to you 18 Our invoice finance capability 19 Bibby Financial Services is proud to have been a stable and trusted partner to UK businesses and financial intermediaries for over 27 years. As we have grown, we have continued to broaden our product portfolio building on our understanding of the complexities of doing business in a variety of sectors. It is this insight and knowledge that fuels our passion to develop strategic products and services to match our clients existing and future finance needs. Supporting UK business We are defined by our approach to doing business. Our reputation and success has been built on our capability, expertise and versatility. Our appetite ranges from writing large complex deals, working in niche sectors, to supporting businesses with a range of invoice finance solutions. Our team of experienced, dedicated finance experts deliver fast, confident and informed decision-making, ensuring a flexible and responsive service. At Bibby Financial Services we make it our business to support UK business. 2 3

3 INTRODUCTION Innovation and Expertise The Bibby Financial Services Specialist Finance team are innovators. Over the years we have built up a market-leading range of unique funding solutions, and are continually on the lookout for new product opportunities. We aim to satisfy each and every one of our clients needs. We know what makes businesses tick At the core of what we do is the desire to really get to know the businesses we work with. That s why we invest time to build an overarching picture of them, their sector, and their needs. Be it construction, recruitment, import, export, or information technology, we aim to really get under the skin of our clients. Our experience, capability, and foresight, means we can deliver funding solutions where other more traditional lenders simply are not able to. Our capability Capability is best demonstrated by results and we ve got them. We ve a proven and enviable track record supporting the funding needs of hundreds of businesses large and small, with innovative solutions. We employ people that share our ethos with a team dedicated to supporting our Understanding their DNA and the nuances clients throughout their business lifecycle. Perfectly of the market placed sectors to in do which larger they operate, deals In 2010 means alone, we can Specialist bring real Finance expertise, client capability turnover We re was 1.1bn passionate and enthusiastic and we and provided a highly tailored funding financial of 100m. solutions to explore all angles, to listen, advise, We have ambitious plans package. After all, our clients don t often fit negotiate and look at things a little more to double the size of division by 2014, have therefore enlarged a standard mould but that s good, because creatively than most. the division, focusing on the specific markets with specialist neither do we. Serving the country from top to bottom financial solutions. We ve got the appetite for funding From working with businesses up and down the country for the past 27 years, we understand that doing business can be different regionally. That s why we have dedicated specialist finance sales and operations teams based in the north and south delivering all of the products. Why we are different It s not just about delivering market-leading products; it s about our people and our ethos. We re naturally inquisitive and strive to see opportunities where others can t. We re prepared to take a calculated risk or back a management team based on their expertise. We are creative it s not uncommon for a client s need to be outside our standard product solution. Our team will listen and understand what s required, and craft a solution accordingly - often against all the odds. We re different to our competitors we really know our industry and pride ourselves on being the very best at what we do. Put simply, delivering innovative funding solutions quickly, securely and professionally is what we are all about. Andrew Dixon, Executive Director, Specialist Finance. 4 5

4 Invoice Discounting Mark Finn, Managing Director, Invoice Discounting. When it comes to invoice discounting, our approach is very different to most other providers. For us, we re not a giant machine processing hundreds of clients and barely knowing their names. Our experience and expertise means we re able to deliver funding solutions to diverse industry sectors, where others don t have the appetite or ability to structure deals. We get close to our clients our funding solutions stem from our ability to understand businesses and gain the trust of the management teams we support. We give them access to our key decision makers both before and after we agree the deal. We re flexible and cater for our clients diverse and changing needs. We support all sorts of businesses in a variety of trade sectors who seek funding of up to 5m. So whether the business is looking to raise finance for an MBO or MBI, looking to refinance, acquire a business, or simply raise additional working capital we will find a fitting solution. We deliver our solutions quickly we re not tied to numerous tiers of underwriting to slow down decisions. Your clients will deal with the decision makers from the outset. We have invested in our team both our sales and operations teams are highly experienced and credible players in the invoice discounting market. Plus, our staff to client ratio is much lower than other providers. This ensures our client managers can be proactive and respond quickly to the changing funding needs of your clients. We don t have a long list of rules and regulations or even standard sectors that we offer funding support to. We work with our clients as real people, and buy into their vision for their business. To support the management buyout of a 16m UK manufacturing company, this complex transaction required a high level of flexibility. This was due to the nature of the business with a diverse product range, complicated debt structures and debtors based both in the UK and overseas. We invested the time to understand the company in detail which involved looking at its broad product portfolio and debtor relationships both in the UK and overseas. Equally important was the time we spent building a strong appreciation of the management team s vision, trading forecasts and determination to make the buyout a success for the long-term. A 1.5m confidential invoice discounting facility with multi-currency capability to fund UK, US and European debtors, supported by bad debt protection. Excellent client service During the recession, getting access from high-street lenders and even boutiques in the automotive sector proved impossible they just didn t want to know. Having been introduced to Bibby Financial Services, we found their approach refreshing and were impressed that the specialists we dealt with took the time to understand our business, and provide solutions to our financial requirements. Over the past 18 months we have developed a trusted business relationship with Bibby Financial Services and as a result of our growth, have increased the value of our funding stream. It s rare to find a company with such a sensible approach to business that does what it says, and invests the time to build real relationships with its customers. Magal Engineering Ltd. 6 7

5 CONSTRUCTION FINANCE Karen Rawlinson, Managing Director, Construction Finance and International Trade Finance. We are proud to have supported the construction industry for over a decade. Today, as market leaders for construction industry funding, we advance over 30m every year. Our team of dedicated professionals include quantity surveyors and recovery specialists who support our varied clients. No other funder has access to a team of quantity surveyors with the ability to structure a deal like us. The experience and expertise we hold in this sector means we re accustomed to looking at propositions where other funding providers have failed to deliver a solution. This could be due to a lack of appetite or ability to structure a deal, whereas we always strive to find a solution wherever possible. A great track record our Construction Finance team continually deliver funding solutions into complex sub-contractor businesses both large and small, in all sorts of sectors, and under all sorts of industry contracts. We can cut through contractual complexity our expertise and experience means we can make fast and informed funding decisions for sub-contractors who seek funding of up to 5m. Dedicated team who can help your client s businesses with bad debt protection, confidential facilities and collecting outstanding customer debts. They operate facilities on a bespoke platform, specifically designed to manage the funding requirements of construction firms effectively. We can fund against uncertified applications for payment this is critical so funding is offered at the point an application is submitted, not weeks later when it is certified. 8 9 The Construction Finance team were approached by a private equity firm to provide an additional working capital facility to a 30m turnover manufacturing contractor. The difficulties of operating in this market sector and the complexity of the firm s large contracts for customers involved in prestigious development projects required a high level of knowledge and experience to structure an appropriate facility. Timescales were tight to meet pressing procurement payments and the management, private equity and construction finance team burned the midnight oil to get the deal done. A 1.5m confidential construction finance facility structured to offer funding against uncertified applications for payment under contract. We researched several funding options, but found that Bibby Financial Services was the only provider that had a high level of understanding of the construction sector, and the funding issues firms like ours are facing. Our construction finance facility is simple to use, giving us access to funds from applications and is supported by bad debt protection which provides great peace of mind. Throughout our ups and downs, Bibby Financial Services have consistently provided support and advice and we can t rate them highly enough. Plastering and Dry Lining Contractor.

6 IT FINANCE Jason Heath, Product Director, Specialist Finance. We believe that specialist sectors demand specialist solutions. IT Finance is the newest addition to our product portfolio and a sector less favoured by our industry competitors. We however, have found it to be a fascinating sector, and one that has a genuine funding need. Our IT Finance package is available to resellers, consultancies, software developers, system integrators and staffing companies seeking a funding requirement of up to 5m. We ve invested heavily in gaining a deep insight into the industry by partnering up with IT professionals which means we can confidently review all sorts of different funding propositions. We can offer advances against stage-billed invoices under a variety of IT contracts and agreements, as well as offering bad debt protection. We manage all our clients in a specialist unit, and our IT credit management team are tasked with collecting any outstanding customer payments sympathetically and professionally. To support the refinance of an 8m turnover IT business which manages large scale IT projects for a range of leading corporate clients. Continued growth meant that the existing funding structure within the business was insufficient to support the future trading forecasts, and a more flexible funding alternative was sought. The nature of the agreements with corporate clients, critical path programmes and staged nature of the billing cycle made this a challenging proposition. It required a high level of expertise to unravel the agreements with clients and enable informed discussions with the management team. We were the preferred choice of provider due to our tailored and sector specific solutions. A 750k IT Finance facility structured to offer funding against staged billing under a variety of IT agreements and contracts

7 INTERNATIONAL TRADE FINANCE Eileen Creely, Operations Director, Specialist Finance. Our market-leading Trade Finance division, developed over the last decade, gives importers of finished goods access to the funding they need to take full advantage of overseas opportunities and realise their full potential. Funding annual trade transactions of over 20m means we have the ability to structure complex overseas transactions, and our expertise runs strongly through our dedicated Trade Finance team. In fact, our proficiency of operating safely and satisfying the needs of all stakeholders has supported businesses supplying supermarket chains, high street giants and online retailers alike. What s more, we ve got ambitious plans and are well on the way to becoming the largest trade financier in the UK. We offer funding against confirmed orders; as well as providing facilities up to 3m on trade finance and 5m when linked to invoice finance. We can make UK and/or international supplier payments including: Letters of credit Documentary credit Supplier undertaking Direct payments Managing VAT, duty and freight costs We also have an experienced UK based multi-lingual credit control team to make debt collection even more efficient. To support the refinance of a 9m turnover specialist chemicals provider. This business had difficulties with the incumbent asset based lender through a confidential invoice discounting and stock facility, and sought a bespoke trade finance facility. This was a complex business operating in a niche market sector and a high level of expertise and speed from the Trade Finance team was required. This was because timescales were tight to perfect a transfer from the incumbent asset based lender and to satisfy the trade finance requirements of the directors. An in-depth understanding of the supply chain was needed as it involved over 100 products purchased from a wide variety of suppliers operating across the Far East and Europe. This was largely on letters of credit which needed to be structured to meet client and supplier requirements. A 2.25m invoice finance facility linked to the trade line with customers based across the UK and Europe. The facility is supported by an international bad debt protection policy, and our experienced multi-lingual credit control team are used to achieve prompt collection of the debt. I used to waste a lot of valuable business time chasing cash to pay for orders. Bibby Financial Services Trade Finance facility has enabled me to refocus our efforts on developing relationships with our valued customers and suppliers, safe in the knowledge that we have a facility in place that fits our business needs. Shoe Solutions

8 export FACTORING Unni Henning, Managing Director, Export Factoring. With a track record over the past 10 years that s second-to-none, we offer the complete international offering through our dedicated Export Factoring team. This includes support across multiple currencies and experienced multi-lingual credit control teams based in the UK. Put simply, if your clients want the peace of mind of knowing that they re dealing with an expert provider in export factoring, then rest assured, you ve found the right home for their business. We re available to UK-based businesses trading overseas seeking a funding requirement up to 5m. We support the export-led recovery we want exporters to be able to take full advantage of international trading opportunities. We want to support growth in overseas markets that s why we won t, as a matter of course, restrict our funding against a client s turnover just because a high percentage of it is overseas. We provide dedicated multi-lingual credit control in different languages and have the ability to manage ledgers in many different currencies, plus bad debt protection capability. Our network of overseas bank accounts ensures monies are collected quickly and cost efficiently for our clients. To support the refinance of a 14m turnover manufacturing business of micro technology components predominantly to overseas markets. This business was being restricted by the incumbent bank invoice finance provider s funding conditions, and was issued with an ultimatum to refinance. Our Export Factoring team gained a detailed understanding of the specific funding requirements, including overseas debtors and high levels of concentration on the sales ledger. They were then able to structure a deal that met these requirements in the short term, and supported the growth aspirations of the company. A 1.25m confidential export and domestic invoice finance facility. The specialist multi-lingual team at Bibby Financial Services are able to communicate effectively with all of our customers in the appropriate language, which is invaluable when trying to collect outstanding monies. Furthermore, the speed at which the funding is released enables us to meet our wage demands and also to expand the business, securing new contracts and delivering on expectations. Browning and Henderson International Limited

9 RECRUITMENT FINANCE Andrew Dixon, Executive Director, Specialist Finance. When it comes to the recruitment sector, we re one of the UK leaders. In fact, we ve been supporting recruitment agencies big and small for over 27 years - with a reputation for delivering only the highest levels of service. We know and understand the issues recruitment agencies are facing. Invoicing, chasing payments and handling the weekly and monthly payroll can all take up large amounts of valuable management time time that your clients could spend growing their agency. So if your client needs invoicing, funding, collections and payroll, we can tailor our support to fit the specific needs of their agency. We offer funding up to 5m providing up to 100% funding against invoices and pay within 24 hours some improvement to normally having to wait over 30 days to get paid. Our services are charged with a single fee and we always provide simple, transparent pricing for our clients. A comprehensive back office service including preparing, and sending out invoices using your client s corporate style and branding. Expert credit control delivered by our experienced Recruitment Finance team. What s more, we can provide a fully comprehensive payroll facility for both staff and candidates placed including: Payments in respect of National Insurance, PAYE and VAT Maintenance of sick pay Maternity and paternity leave records End of year payroll returns Providing an on-going invoice finance and back-office solution to specialist recruitment firm Kennedy Pearce Consulting. Having outgrown its existing funding provisions, the company was keen to work with a specialist in its sector, which could offer not only finance, but payroll and sales ledger management to provide back-office support. The Recruitment Finance team took the time to understand the business trading plans, funding requirements and back office needs, before recommending a specialist recruitment finance solution that provided a funding line that could grow and adapt with the business. A 1m invoice finance facility with full sales ledger management and payroll services. This agency now has an annual turnover of 10m and the Recruitment Finance team continues to work closely with them to ensure all their finance and back office requirements are met to support the firm s ambitious growth and expansion plans. We had outgrown the small client category with our previous funding provider and they were unable to accommodate our needs as a mid-sized firm, so we needed a change. Having investigated the options available, Bibby Financial Services was the obvious solution. They have invested time in understanding how our business works which has enabled our finance provisions to react to our changing needs as quickly as we can. The back-office support we now subcontract through Bibby Financial Services has proved invaluable. Knowing our sales ledger and payroll is being looked after by experts gives us peace of mind and allows us to focus on providing great service to our clients and growing the business. Kennedy Pearce Consulting

10 OUR COMMITMENT TO YOU OUR INVOICE FINANCE CAPABILITY We understand that each and every business is different and thankfully we re not a giant machine processing hundreds of clients and barely knowing their names. We re not restricted by rules and regulations either. What s most important to us is to understand what your client s business is all about. Our expert team will explore all angles of a business, listening to their requirements and structuring funding facilities creatively to always offer the very best solution. But what really sets us apart, is our speed of response in making decisions. You will have access to the key decision makers from the outset so you re not left waiting for a decision for weeks on end. Whatever the business, size or sector; our aim is always the same to deliver funding solutions to our clients professionally and sensitively. We ve found that this makes a real difference to their businesses and sets them on the road to success. As market leaders, our experience and specialist approach penetrates our entire business. It is this ethos that has enabled Bibby Financial Services to fund large complex transactions, niche sectors, as well as supporting the small and medium sized business community. We re the experts when it comes to funding small and medium sized businesses. In fact we have been successfully delivering professional invoice finance solutions for over 27 years. Understanding our clients: We understand every company is unique with its own set of finance requirements. Our dedicated invoice finance experts make it their business to understand each client s needs. By getting under the skin of our clients we re able to make confident and informed funding decisions. Ability to find a finance solution: We have the appetite and ability to structure a package that meets our client s unique requirements. Our flexibility allows us to provide disclosed, confidential, selective, and bad debt protection services meaning our clients needs are always met. Supporting UK business: By using our knowledge and experience of funding a variety of sectors and situations, we have the capability and skill set to support SMEs at all stages of the business lifecycle. We have invested in our team: Our professional decision makers look after local markets and provide a seamless service. Clients interests are looked after on a macro and micro level. Our dedicated sales and client management teams are well placed to meet the changing needs of our clients - decisions are delivered quickly and efficiently. Contact the specialists today. Bibby Financial Services Packington House 3-4 Horse Fair Banbury Oxon OX16 0AA t: f: e: marketing@bibbyfinancialservices.com w: