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European Valuations Provides Accounts Receivable Review and Plant & Equipment Valuation to Support Refinance Deal.

European Valuations Provides Accounts Receivable Review and Plant & Equipment Valuation to Support Refinance Deal.

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Background

European Valuations was engaged by Procam Take 2, Europe’s largest digital cinematography and motion picture equipment hire company. Procam Take 2 is a market leader in the fast-growing sector and with offices in both the UK and US, has been supplying professional equipment to the TV and film sector throughout the UK and internationally for more than 30 years. The company supports major productions across a multitude of genres, including music, live events and streaming to commercials, feature films, drama, reality, fixed rig, and factual television.

London-based private equity investment firm, Inspirit Capital partnered with the management team to purchase the business in September 2020. BTG Debt Advisory advised management and ran a competitive financing proces which led to Arbuthnot Commercial ABL being selected.

Our work encompassed conducting a pre-lend due diligence review of the accounts receivable and a plant & equipment valuation of the camera assets and lenses for asset based lending purposes. Arbuthnot Commercial ABL provided a £7m ABL funding line to be used for ongoing working capital for new projects and in addition for further CapEx investment in equipment to fulfil demand as the business grows.

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