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Multi-asset Advice Supports £8m ABL Facility for UKs Largest Fabricator and Supplier of VEKA UK Products.

Multi-asset Advice Supports £8m ABL Facility for UKs Largest Fabricator and Supplier of VEKA UK Products.

Double glazing new buildings

Background

European Valuations was engaged by Glazerite UK Group Limited one of the UK’s largest window manufacturers and uPVC specialists. European Valuations were engaged to review the accounts receivable and to value the machinery assets for a potential asset-based lending (ABL) facility which was being provided in conjunction with a management buyout (MBO) led by Group Managing Director, Robert Brearley.

Glazerite is the UK’s largest fabricator and supplier of VEKA UK Group products to trade. The group generates annual sales of more than £35 million and is headquartered in Wellingborough with manufacturing sites in Peterborough and Bolton.

The scope of our work included a pre-lend due diligence review of the accounts receivable and a plant & equipment valuation of the manufacturing assets held at the company’s manufacturing sites in Bolton and Peterborough.

Our report and advice were utilised by Shawbrook Bank who provided an £8m asset-based lending (ABL) solution which incorporated an invoice discounting facility, a property, machinery and a cashflow loan.

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