Paramount Interiors

 

Challenge

With a vision of ensuring Paramount Interiors fulfils its potential by continuing to achieve year on year growth, Managing Director Richard Jones led the management team on the buy-out, having been appointed as MD at the end of 2017.

In order to do so, additional funding was required to assist with the majority share purchase from previous owner, Nigel Roberts, who remains involved as non-executive Chairman of Paramount.

Solution

The team realised the acquisition in a deal orchestrated by lead advisors Verde Corporate Finance and Greenaway Scott and was backed with funding from ABN AMRO Commercial Finance and also follow-in equity investment from GS Ventures.

The collaborative team of experts worked well together, putting Paramount’s needs at the heart of their delivery. This included a multi million Receivables funding solution and Enterprise Finance Guarantee (EFG) Term Loan through ABN AMRO. The mix of funding provided the funds for the acquisition and also supports ongoing working capital.

Supported by the Government through the British Business Bank, the EFG provides fast access to finance which enables UK businesses to grow by providing the lender with a guarantee of 75% of the loan value which will be repaid over three years.

The provision of ABN AMRO’s Bad Debt Protection also provides Paramount with certainty and peace of mind over the risk of late or non payments.

Result

Managing Director Richard Jones said: "The MBO allows Paramount to further invest not only in our people, but also the facilities and service we provide to our clients, building on our 30 years as a recognised leader in the field."

The acquisition will support the Paramount team’s vision for moving the business forward and achieving year on year growth, explore future expansion plans and new markets. This will be supported by the company’s investment in young new talent within their Sales and Design teams - contributing to the professional and personal development of the Welsh workforce.

Verde Corporate Finance Director Craig Blackmore said:

"The MBO was well-planned and executed smoothly and efficiently, and will no doubt enable Richard and his team to build on the fantastic work that Paramount Interiors is renowned for. We would also like thank ABN AMRO, who worked swiftly, flexibly and with huge desire to make the project a success. ABN AMRO are a great example of what we look for in a funding partner on this type of project."

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Background

Paramount Interiors, is one of the UK’s leading workplace design, fit out and furniture specialists. With experience in the latest trends in office design and modern office furniture, each office fit out and workplace refurbishment project is tailored to meet their clients' needs.

Receivables Finance

Receivables Finance is an umbrella term for Invoice Finance solutions - which sit at the core of any Asset Based Lending.

Enterprise Finance Guarantee (EFG)

Raise from £25k to £1.2m with the EFG - an innovative business finance scheme, supported by the Government through the British Business Bank.

Bad Debt Protection (BDP)

BDP safeguards your business against the risk of late and non payment - protecting your ability to grow with complete confidence.

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