RBS supports MBO to create further market share
– RBS collaborate with RBS Invoice Finance to provide loan facilities and working capital
– The Inspired Branding Group Limited (IBG) facilitated an MBO of Stridage Holdings with RBS support
– MBO will increase market share in the UK
The Royal Bank of Scotland (RBS) and RBS Invoice Finance have provided £2.5m loan facilities and £3m working capital facilities to support The Inspired Branding Group Limited (IBG) to complete the management buy-out at Surrey-based promotional merchandiser, Stridage Holdings which comprises the operating businesses of Dowlis and Adproducts.
Dowlis and Adproducts are leading promotional merchandise companies that specialise in B2B bespoke and generic brand products, gifts, merchandise and props to support companies promotional and marketing campaigns. Both businesses operate under the same management team and the MBO sees Richard Sowerby, the existing managing director of Stridage and David Lynn, the existing managing director of Dowlis consolidate their superior sales skills and proven track record of winning large blue-chip clients to create further market share.
The MBO sees Richard Sowerby and David Lynn buy out the two existing shareholders after securing a £5.5m funding package from RBS which includes an Invoice Discounting facility to support the working capital cycle of the business. Nicole De Silva from the RBS Corporate Transactions Team worked alongside Mike Waddelove in the Reading banking team and Andrew Saunders from RBS Invoice Finance.
Richard Sowerby, managing director of IBG said: “It will be business as usual as the management team focus on extending our business model to enhance our position as the second largest UK business in our industry. We are grateful for the support and professionalism RBS has displayed throughout the deal process which has allowed us to facilitate growth across our business.”
Nicole De Silva, director at RBS Corporate Transactions Team, said: “I wish David and Richard all the best with their strategy to establish Dowlis and Adproducts as dominant forces in the promotional industry.”