The situation
The target owned a distribution centre, a mixed age fleet and a stable contract base. A single unsecured facility would have been priced for the weakest part of that mix.
The seller wanted certainty of completion within a quarter.
Netherlands ยท Logistics and warehousing
A logistics operator agreed to buy a regional competitor and needed a structure that respected the different quality of the assets involved.
The target owned a distribution centre, a mixed age fleet and a stable contract base. A single unsecured facility would have been priced for the weakest part of that mix.
The seller wanted certainty of completion within a quarter.
We split the funding into three tranches: a mortgage against the distribution centre, refinance of the fleet on asset terms, and a smaller cash flow tranche for goodwill.
Splitting the risk let each pound sit with the lender best placed to price it, which lowered the blended cost against a single facility quote.
EUR 8.5m completed across three providers on a coordinated timetable, eleven weeks from mandate.
Blended pricing came in below the single facility alternative, and the fleet tranche released additional cash at completion.
Details are anonymised. Figures are rounded and identifying information is removed or altered to protect client confidentiality. Past transactions are not a guarantee of future outcomes.
If this looks close to your situation, describe the requirement once and we will structure it and approach the providers whose criteria match.
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