Refinancing for flooring contractor
MHA Maclntyre Hudson Corporate Finance provided lead advisory services in the refinancing of Bedfordshire based Axiom Group Limited. The deal was funded by Centric Commercial Finance.
AGL’s existing finance provider has decided to pull out of the UK marketplace, leaving a potential funding gap that needed to be filled quickly. Given the uncertainty over the construction sector, this was no easy task despite the strong financial performance of the business and its outstanding senior management team of Nick Edwards and Martyn Leonard. So they turned to our specialist corporate finance division who helped drive the deal forward to completion.
The deal was successfully led, negotiated and completed by Laurence Whitehead, Craig Chamberlain and Brad Agnew from MHA MHCF. They negotiated the structure of the refinancing package and assisted in securing the required funding. Laurence commented “The completion of this deal in the current economic downturn demonstrates the strength of the company and quality of its senior management team. I wish Nick, Martyn and the other key members of the team every success for the future. Our team’s track record and experience was paramount in us being able to source and secure funding in an extremely difficult debt market, which was compounded by the uncertainty around the construction sector. We found Centric very easy to deal with. They worked hard to understand the underlying quality of the business and were able to provide the full funding package required in a very short space of time. We are delighted with the outcome for all parties involved.”
Jeff Greenfield and Tim Hawkins led the Centric team. Jeff, Business Development Director at Centric, commented: “AGL is an exceptionally strong business with a first-class management team in place. For 30 years they have continually generated profit and we are very happy to refinance their business. The deal was introduced to us by the MHA MHCF team and we worked very well together to come up quickly with a funding package which met requirements. Laurence, Craig and Brad provided both the management team and ourselves with excellent support and assistance during the transaction and it was a genuine pleasure to work with them.”
AGL is a market leading contract flooring business, which supplies and installs commercial floor coverings to the construction, retail and end-user marketplace. It has been trading profitably since being founded over 30 years ago. Clients include PFI hospitals, major construction contractors and blue chip retailers.
If you would like to know more about this deal or how we can assist you, your clients or your contacts who may be looking to refinance, send us an enquiry to arrange an initial no-obligation meeting.