A management buyout has successfully taken place at Set and Match Ltd, a Birmingham-based SME printing company, with the support of funding provided by Time Finance. The deal, which consisted of a £70,000 invoice finance facility and a £70,000 secured loan, allowed Stuart Mills, the managing director of Set and Match Ltd, to purchase the shares of the existing shareholders.
Set and Match Ltd was founded in 1992 by John Mills and Jim Reely, initially focusing on typesetting before expanding into traditional printing in 2002 with the acquisition of a print business. With the buyout, Stuart Mills now has the opportunity to merge Set and Match Ltd with Colprint, a related company, and assume full ownership.
Mills expressed his appreciation for the asset-based lending (ABL) solution, which he had not encountered before despite his long experience as a business owner. He found it to be a flexible funding option that leveraged the company’s existing assets, enabling him to complete the share purchase and continue the growth of his business.
The £140,000 deal was facilitated by Time Finance in collaboration with Paul Varley from Navigate Commercial Finance. Rob Walters, a business development manager at Time Finance, highlighted that SMEs often overlook asset-based lending because traditional lenders typically offer this type of funding in much larger amounts. Time Finance, however, seeks to challenge this norm by providing tailored solutions to meet the specific needs of businesses, offering ABL deals ranging from £25,000 to £3.5 million. This approach gives small businesses the flexibility to explore alternatives to conventional loans.
Paul Varley, managing director of Navigate Commercial Finance, expressed his satisfaction in supporting Stuart Mills and Set and Match Ltd as they enter this new phase of growth. He praised the company as a well-run, progressive business that is well-positioned to thrive under Stuart’s ownership with the backing of Time Finance.
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.
