Lambert Smith Hampton Asset Based Lending

Our work - 13/09/2019

Appraisals of plant & machinery and inventory including finished goods, work in progress and raw materials

Instructed by a Major ABL

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The Brief

  • instructed by a Major ABL
  • to provide appraisals of plant & machinery and inventory including finished goods, work in progress and raw materials as loan security
  • to support a re-financing facility

The appraisals were carried out on one of the world’s leading specialist integrated steel, engineering and roll making companies.  The company designs and manufactures large high integrity steel castings and forgings as well as producing steel ingots for external forging and ring rolling manufacturers and precision forge rolls for materials processing.  The company serves amongst others customers in the oil and gas, defence and nuclear sectors.

Logistics

  • To maximise the return, an exit route requires the completion of work in progress inventory with a cycle time of up to nine months to completion.
  • The plant and machinery valuation encompasses the largest forging press in Western Europe.

Resolution

  • Our inventory valuation involved assessing the finished sales value and cost to complete of hundreds of bespoke items on an individual basis.
  • Our P&M valuation is informed by our recent sales experience in this sector.The inventory valuation was underpinned by our detailed understanding of the business gained from a long standing involvement.

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