About the Broker
Formed in 2007, Azure Financial Solutions Limited (AFSL) had the foresight to take advantage of the changing environment developing within the financial services sector.
AFSL provides expert intermediary solutions to a diverse range of clients in the UK and internationally, across various sectors and unique situations. By combining sector knowledge and connections, AFSL has the ability to understand customer funding requirements.
About the customer
AFSL’s customer is a family run business formed in 1976 in Sheffield and relocated in 1989 to West Sussex, providing school bus route services in West Sussex and Hampshire for over two decades.
The customer generates 80% of sales through local schools via a Hampshire County Council contract. They provide excursions and daily commutes to both private and state schools. 20% of sales are generated via private hire.
The requirement and solution
In order to release some much needed cash flow, the customer was looking to raise £100k equity from five coaches on existing agreements.
Nick and Colin Taylor at Azure Financial Solutions met with Karen Fryer, Broker Development Manager at Close Brothers Business Finance, to discuss their client’s financial requirements. The customer was already a long standing customer of Close Brothers and had other agreements in place. Following a full review of the customer’s finances and the assets they wished to raise capital against, Karen advised the best financial solution would be a Sale & HP Back product.
Investment for the future
With the finance package in place and the equity released from the existing assets, AFSL’s customer can move the business forward and increase company profits. Plus after a long period of no investment in the fleet, the customer can now purchase much needed new coaches.
Nick said: “Our customer’s strategy moving forward is to continue to follow the traditional business model, but with the successful funding, this will bolster the working cash flow and headroom the current financial facility. The support our customer received from Karen and the team at Close Brothers Business Finance was invaluable, it has allowed them to put their strategic objectives into action and take positive steps forward with company investment.”