Crowe team supports banks funding growth companies

The Midlands Corporate Finance team at national audit, tax, advisory and risk firm Crowe has provided financial due diligence on two major deals including the MBO of a Staffordshire plastics manufacturer and the refinancing for growth of a commercial washroom manufacturer.

The deals are among a number of transactions covering over £60 million of lending, supporting deals worth £140 million, that Crowe has advised on over the past 12 months.

Chasz Coulsting, director of Corporate Finance at Crowe, said: “We have worked for both high street banks, as well as challenger banks and other lenders. The funding provided has supported MBOs, employee ownership buyouts, as well as direct refinancing and support for growth. ”

Two deals completed in recent months include support by Shawbrook for RSPB, the Stoke-on-Trent-based market leader in business-to-business washroom manufacturing, in the shape of a £20 million debt package to enable the next phase of the company 's development.

Amy Beasley, director of Corporate Lending, said: “Crowe provided thorough and thoughtful financial due diligence on this exciting deal.

“I was pleased with the excellent services provided by Chasz Coulsting and the Crowe team, particularly the proactive and pragmatic approach taken, as well as the valuable advice provided throughout the process.

“We 're proud to be able to support RSBP Group in the next phase of its growth journey and look forward to seeing what they are able to achieve. ”

The second deal that saw the Crowe team providing financial due diligence was the private equity share buyback by management at Well Plastics in Stone, Staffordshire, one of the UK 's leading manufacturers of additive masterbatch and compounds within the polymer industry, working across many sectors and continents.

Crowe 's Corporate Finance team was led by partner Andy Kay and director Chasz Coulsting, supported by colleagues Phoebe Turner, Jason Daft and Nick Martin.

Andy Kay (pictured) added: “In what has been a challenging time for corporates looking to secure lending and fund their growth plans, it has been particularly pleasing to help support our banking colleagues in getting these deals across the line. ”