Precise Consultants specialise in sourcing highly skilled freelance personnel to the offshore sector. This includes work across five key disciplines: Survey, Inspection, ROV, Cables and Marine.
When co-founders, Peter Thompson and Adam Sumner first started the business in 2013, their client base was fully focused on oil & gas with the odd renewable client. The crash of the oil price took its toll on the industry and Precise Consultants had to learn to quickly adapt. This led to developing relationships and growing the business with more clients in renewable energy.
In order to achieve their desired growth, a flexible finance option was required which would allow them to review and increase limits on a case-by-case basis in order to meet the seasonal demand of their operations.
Adam was familiar with the benefits of an asset based funding solution and in 2017 sought to refinance their Invoice Discounting facility with a lender that would partner with them and support their continued growth ambitions.
“Having gone through various funders in the past, we were introduced to ABN AMRO Commercial Finance and never looked back. We have a safe and secure relationship and the team are very responsive – we’ve never had a conversation that didn’t start and end with ABN AMRO giving us what we need to support our development and overcome our funding challenges.”
The initial facility has grown with the business to support them every step of the way as a reliable and flexible Invoice Finance solution which helps bridge the gap between 90 day payment terms on their contracts and paying personnel.
As a young, independent company, Precise Consultants has steadily grown with the industry year on year. What started as two friends working from their bedroom, has become what is now an 18 strong team with 70% of their portfolio in renewables.
Talking about their sustainable ambitions and working towards becoming a net zero company, Peter said, “We wanted to create something that allows us to give back. Sustainability needs to tie in with sustainable economics for any ideas to turn into long term solutions. One thing that we’ve learnt about going into any partnership is that sharing the same values is imperative and without ABN AMRO we would not have been able to scale our business in the way that it has.”
Adam and Peter take great pride in the development of their team and ensure there is a good mix of relevant experience and expertise which bring fresh ideas and energy that resonate well with their clients. Moving forward global expansion of Precise Consultants is on the cards and they look forward to working with ABN AMRO on that journey.