Background
European Valuations was engaged by BREAL Zeta CF, to provide advice in relation to the inventory assets owned by Evtec Automotive. Evtec is a Tier 1 supplier to JLR, Ford and other major OEMs. The company was acquired by David Roberts, from Arlington Engineered Systems out of administration. The acquisition and funding will save up to 110 jobs and should create 50 more as well as secure the future of a critical supplier to the automotive industry.
Our work included appraising and valuing the inventory. Our report and advice was utilised by the company’s advisers, FRP Debt Advisory, and BREAL Zeta, who delivered and structured an ABL facility totaling Ā£16M (which included funding against accounts receivable, property and inventory) to support and assist the company with its on-going working capital needs.