Lambert Smith Hampton Asset Based Lending

Our work - 13/09/2019

Appraisal to support a management buyout of a business

Instructed by the Debt Advisory Dept. of a Top 4 Accountancy Practice

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The Brief

  • Instructed by the Debt Advisory Dept. of a Top 4 Accountancy Practice
  • to support a management buyout of a business
  • ultimate lender being a relatively new entrant to the ABL market.
  • to provide an appraisal of the contractors’ hire fleet and commercial vehicles to support a fixed term loan, undertake an accounts receivables review in support of a revolving facility and the valuation of 2 commercial properties for an additional term loan.

Logistics

  • The business was a leading group of construction companies operating across the North of England and Scotland in civils, commercial build, social housing and facilities.
  • Due to the nature of the business, most assets were located at customer premises.
  • Collect sufficient data to identify assets for valuation on a desktop basis and to support a fixed charge.
  • AR expertise involved assessing the value of contracts and contractual debt.

Resolution

  • Utilising our vast database of auction comparable evidence to support a valuation of the hire fleet.
  • Bespoke reporting to accommodate the contractual nature of the accounts receivable.
  • The ability to provide valuations and reviews of not only 3 asset classes but also to be able to deal with, and understand, the contractual nature of the business.

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