has been acquired by
Duff & Phelps is pleased to announce that it has recently assisted a growing specialist recruitment business and its funders to access and manage its working capital requirements as the Company expands.
About the Client
This undisclosed recruitment business specialises in the supply of high quality labour to the construction and associated industries in the UK. It owns a proprietary database of more than 2,000 labourers and site managers and is focused upon the supply of labour to sites in and around the M25 and the South East of England.
As a result of significant growth in turnover achieved in Q4 FY13, the Company experienced pressure on its working capital facilities which the funder considered may have suggested overtrading.
Duff & Phelps’ Role
Duff & Phelps appraised the business and developed a set of financial management tools and processes to help stakeholders manage the Company’s ambitious growth plans.
Our role resulted in both the funder and the Company gaining clarity on the Company’s projected funding requirement in the short-term and long-term by improving the accuracy of the long-term forecast following sensitivity analysis and challenging management’s key assumptions.
In addition, Duff & Phelps recommended that the lender increase the business’s facility limit on a permanent basis to provide working capital headroom as it expanded.
Following completion of Duff & Phelps’ review, we also worked alongside management to provide the Company with recommendations in respect of its finance function, corporate governance, group financial controls and financial control environment as it was identified that the internal systems and processes were insufficient for its size and could compromise its growth plans.
Duff & Phelps achieved a business turnaround following 18 months of trading, during which time the theme park and additional properties were developed through investment of £35m. Exit was via CVA which enabled dividend to be paid to unsecured creditors.
has received a USD 40,000,000 Loan Facility.
has received a dual tranche credit facility.
has received a credit facility to finance the acquisition of
has been acquired by
a portfolio company of
Leveraged dividend recapitalization transaction
Rendered financial and tax due diligence services on behalf of the acquirer
March 21-23, 2018 Hollywood
March 20-21, 2018 London , UK