Speaking from experience
Cashflow UK are experts in helping financial intermediaries find the right finance facilities to match the individual business needs of their clients. Find out how our services have recently improved the cash flow management for freight forwarder, Kingscote Freight Services Ltd.
Moving forward with Cashflow UK
David Guest, a partner at chartered accountants UHY Hacker Young came to Cashflow UK when he needed a broker who had an intimate knowledge of the market in order to ensure that his client’s time was utilised effectively.
His client, freight forwarder Kingscote Freight Services Ltd was looking to purchase an established business as part of a retirement sale. After extensive conversations they were turned down by their bank due to them being uncomfortable with the airfreight element of the debt.
David comments, “Had we known what we know now, Cashflow UK would have been involved at the outset.” He turned to Cashflow UK to find the best finance solution for his client, whose strategy was to release as much money from the ledgers of both businesses to fund the purchase.
This strategy would mean that the enlarged business would turnover approximately £15m per annum and specialise in international freight, warehousing, transportation and packaging.
“Cashflow UK negated the need for time consuming meetings, identified key funders and ensured that the process was smooth at every step of the way” adds David.
With both businesses now merged under one name and the economies of scale that have arisen as a result, David concludes “The fact that the funder proved very flexible throughout the purchase process and still is now with the newly merged invoice discounting facility, is testament to the continued involvement of Cashflow UK.”
