Venture Structured Finance backs invoice discounting buy-out

30/01/2008

Venture Structured Finance has supported a management buy-out (MBO) of household goods manufacturer Avanti Blue, it has emerged.

The invoice and asset-based lender provided a funding package worth a total £1.95 million consisting of confidential invoice discounting, stock and a cashflow loan, reports Creditman.co.uk.

Neil Topping, regional director for Venture Structured Finance, said: "It is a pleasure to be working with and assisting with the future of such a dynamic company."

He added that his firm is "always attracted to companies with a strong underlying business plan and clear assets against which to leverage finance".

The deal was led by managing director of Avanti Blue Liam Pilkington and Eddie Mackin, the financial director at Avanti Blue.

They were assisted by MBO adviser Jeff Barber from BTG McInnes Corporate Finance.

The Lancashire-based company produces household disposable items such as freezer bags and refuse sacks, in addition to manufacturing environmental films for packaging applications.

Earlier this month Venture Structured Finance agreed a £3 million funding deal with printer cartridge firm PBT International.