Set and Match Ltd, a printing company based in Birmingham, is poised for future growth after successfully completing a management buyout, supported by an Asset-Based Lending (ABL) deal. The financing package, which includes a £70k Invoice Finance facility and a £70k Secured Loan, has allowed Managing Director Stuart Mills to acquire the shares of the existing shareholders, positioning the company for success in a constantly evolving commercial environment.
The £140k ABL deal, arranged through broker Paul Varley at Navigate Commercial Finance, marks a significant move as ABL is typically associated with larger financial transactions. Rob Walters, Business Development Manager at Time Finance, highlighted that while ABL is often overlooked by SMEs due to its association with bigger deals, Time Finance is committed to tailoring financial solutions to meet the specific needs of smaller businesses. With the ability to structure ABL deals ranging from £25k to £3.5m, Time Finance offers an alternative to traditional loans, providing SMEs with greater flexibility.
Stuart Mills, who has led Set and Match for over 20 years, acknowledged that ABL was a new concept to him, but it made perfect sense as a way to leverage existing business assets. This approach has not only facilitated the buyout but also provided a flexible funding solution that supports the continued growth of the company. Paul Varley expressed his satisfaction in helping Stuart and Set and Match secure the right financial support to drive the next phase of their growth.
Set and Match was originally established in 1992 by John Mills and Jim Reely, focusing initially on typesetting before expanding into traditional printing with the acquisition of a print business in 2002. The management buyout will now enable Stuart Mills to fully integrate Colprint with Set and Match, allowing him to concentrate on expanding the company’s print services under his sole ownership.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.
