Following an introduction from KPMG, ThinCats has structured an initial £300,000 working capital facility for the UK’s leading and largest retail-focused procurement consultancy business, Ebit Business Solutions. The transaction, which is expected to be the first of several tranches, will enable the business to pursue its strategic plans and take the next big step change in growth.
Headquartered in Dorchester and established in 2012, Ebit Business Solutions is a leading procurement services provider with a proven track record in cost savings, process improvement and revenue generation for both medium and large scale businesses in the UK. Today, the company works with over 70 retailers and has a client base with combined turnovers of over £55bn.
Not content with having tripled in size in six years, successfully winning contracts with some of the best known leading brands across retail, food, manufacturing, higher education and property, Ebit Business Solutions is now looking to enter new markets, as well as to further develop its ground-breaking Aderes software platform, supported by the funding provided by ThinCats.
Aderes is the only contracts database software product in the UK offered on a managed service basis. It allows all contracts to be loaded on the system, keeping the client informed as to when they need to renew and providing detailed benchmarking information - in short, ticking all of the boxes needed by a company to know they are buying well and have great governance.
John Bradshaw, CEO, Ebit Business Solutions said: “ThinCats were very pragmatic in gaining a good understanding of our business and delivered the facility without any of the red tape that you might associate with the banks. Their dynamic approach to service delivery was superb, hitting all of the timescales in front of them and executing the transaction in a completely hassle-free manner. The straightforward facility has given us the level of funding that we needed to realise our business plans, without having to give away equity. I would recommend ThinCats to every ambitious business that is looking to scale at pace.”
Alison Whistance, director, regional business development at ThinCats said: “We were delighted to support such a highly experienced management team with the level of growth capital they need to turn their ambitions into reality. The combination of market intelligence, blue-chip client relationships, multiple revenue streams and unique product offering is truly impressive and we wish John, Rob, Jo and the team every success in achieving their significant aspirations for growth in the coming years.”