AMC Private Equity secures £6.75m funding package from BFS for Linsco acquisition
AMC Private Equity Ltd. (AMC) has secured a £6.75m invoice discounting facility and loan from independent SME funder, Bibby Financial Services (BFS).
Specialising in the property and recruitment sectors, AMC’s funding supports its acquisition of Nottingham-based Linsco Ltd – England’s oldest construction focused agency, with 47 years’ experience in the sector. BFS’ investment will assist both Linsco and AMC, in achieving their ambitions for growth, and Linsco’s plan to become the largest construction focused agency in the UK.
An initial introduction was made by Pinnacle Business Finance through Mike Stevens, business development manager for the South West at BFS. Following this, the deal team was led by BFS’ Glenn Souter, corporate business development manager. AMC chose BFS as its partner above alternative funders due to BFS’ speed of response, sector specific knowledge, and ability to work closely with a range of third parties.
Jeff Cruddington, partner of AMC Private Equity Ltd., said: “BFS supported us at every stage of the process. From the outset, they took the time to get to know our business and develop a clear understanding of our goals, ultimately creating a funding facility which was precisely tailored to our needs. Their speed and efficiency – completing the deal in under two months – made all the difference. Glenn and his team have been excellent partners, and we’re excited to enter this next phase for both AMC and Linsco Ltd.”
Glenn Souter said: “It’s a privilege to partner with AMC on this new venture. Their ambitious growth strategy, combined with our team’s expertise in the construction and recruitment sectors, has created a strong foundation for success. We’re proud to provide a flexible invoice discounting facility to support both AMC and Linsco Ltd., and we look forward to seeing their continued growth.”
The transaction was supported by:
· Simon Thomas, assistant corporate manager
· Andrew Strike, underwriting / risk
· Ian Bennett, Onboarding
· Jo Wilkins, Onboarding