1. finance

RBS Supports MBO to create
further market share
• RBS collaborate with RBS Invoice Finance to provide
loan facilities and working capital
•The Inspired Branding Group Limited (IBG) facilitated
an MBO of Stridage Holdings with RBS support
•MBO will increase market share in the UK
The Royal Bank of Scotland (RBS) and RBS Invoice Finance have provided
£2.5 million loan facilities and £3 million working capital facilities to support
IBG to complete the management buy-out at Surrey-based promotional
merchandiser, Stridage Holdings which comprises the operating businesses
of Dowlis and Adproducts.
Dowlis and Adproducts are leading promotional merchandise companies that
specialise in B2B bespoke and generic brand products, gifts, merchandise
and props to support companies promotional and marketing campaigns.
Both businesses operate under the same management team and the MBO
sees Richard Sowerby, the existing Managing Director of Stridage and David
Lynn, the existing Managing Director of Dowlis, consolidate their superior
sales skills and proven track record of winning large blue-chip clients to
create further market share.
The MBO sees Richard Sowerby and David Lynn buy out the two existing
shareholders after securing a £5.5million funding package from RBS which
includes an Invoice Discounting facility to support the working capital cycle
of the business. Nicole De Silva from the RBS Corporate Transactions Team
worked alongside Mike Waddelove in the Reading banking team and Andrew
Saunders from RBS Invoice Finance.
Richard Sowerby, Managing Director of IBG explains, “It will be business
as usual as the management team focus on extending our business model
to enhance our position as the second largest UK business in our industry.”
“We are grateful for the support and professionalism RBS has displayed
throughout the deal process which has allowed us to facilitate growth
across our business.”
“We are grateful for the support and
professionalism RBS has displayed
throughout the deal process which
has allowed us to facilitate growth
across our business.”
Richard Sowerby,
Managing Director,
The Inspired Branding Group Ltd
To find out more
For further information, please
contact your Relationship Manager
www.rbs.co.uk/business
Nicole De Silva, Director at RBS Corporate Transactions Team added,
“I wish David and Richard all the best with their strategy to establish
Dowlis and Adproducts as dominant forces in the promotional industry.”
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