10/05/2021 Andrew

Accounts Receivable Review Supports Investment and Funding Facility.

Background

European Valuations was engaged by bd-capital, a specialist operationally led pan-European private equity investment firm, to provide due diligence analysis and support in relation to the account receivables of the Ascenti Group (Ascenti) for proposed working capital facilities in conjunction with bd-capital’s investment.

Ascenti is a leading provider of physiotherapy and selected clinical outsourcing services into the UK physiotherapy and mental wellbeing markets. Established in 1996 as a small rehabilitation business helping victims of motor accidents recover from injury, Ascenti has grown organically and through a series of acquisitions over the last 20 years into the UK’s leading independent network of physical wellbeing services serving individuals, corporates, insurance companies, private medical insurers, and the NHS.

We worked closely with debt advisers Axis Arbor (Axis) to agree a comprehensive scope to satisfy potential lenders for the post investment working capital facility that was required. Working within a tight timeframe our work encompassed conducting a pre-lend due diligence review of the accounts receivable across two companies within the group. Our report and advice were used by Axis and potential lenders in their credit decision making and structuring processes to deliver a working capital facility which was provided by M&G Investments.

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