Over the years Reflex have expanded their operations significantly through a number of successful acquisitions and sustained organic growth. In order to manage ongoing working capital and support their strategic growth strategy, the management team decided to refinance their existing facility with a more flexible Asset Based funding solution.
ABN AMRO Commercial Finance was introduced to Reflex by EY as advisors and engaged law firms Addleshaw Goddard and Freeths (on behalf of Reflex), to provide Reflex with a £47.5m Asset Based Lending facility. The funding package comprises of Receivables Finance, a Cashflow Loan and Term Funding on plant, machinery and property.
The provision of this funding solution will enable Reflex to focus on further integration of recent acquisitions, drive organic growth and be at the forefront of innovation as they continue to invest in technology and people.
Ian Kendall founder and CEO of Reflex Group commented, “EY conducted the full process on our behalf and as a team, we unanimously felt that ABN AMRO were the right fit to provide us with a suitable funding solution. It was clear that all parties shared the same values around sustainability and it’s a credit to everyone involved that despite lockdown conditions this deal happened.”
Jeremy Harrison, Head of Sales at ABN AMRO Commercial Finance said, “We are delighted to work with the professional management team at Reflex and with EY. Despite these unprecedented times everyone in the broader deal team had to adapt to a remote working environment and accomplished the delivery of this financial solution on time.”
Amy Griffiths, Director of Corporate Finance - Capital and Debt Advisory at EY added, “It has been a pleasure to support Reflex’s continued growth trajectory by securing a flexible financing solution for them with ABN AMRO.”
Reflex has 800 staff at 19 locations across the UK. Products include self-adhesive labels, shrink sleeves, flexible packaging solutions and plastic alternative products. During the COVID pandemic Reflex is supporting the UK food chain and has also been producing PPE and ancillary goods for the NHS. They also have a strong sustainability ethos, aiming to create efficiencies in production, reduce cost, energy consumption and waste.