Asset-based lender Centric Commercial Finance had a strong first quarter which saw 15 issuances totalling £36m.
Sales climbed 50 per cent from a year ago, taking the firm’s total funds advanced to £191m.
The firm had 62 deals last year including Graphite Capital’s sale of its stake in TileCo Group through a management buyout to private equity peer Alcuin Capital Partners, for which it provided lending.
Centric’s commercial director Tim Hawkins said, “Today, asset based lending is increasingly being used as part of the private equity funding mix in deal structures where the target company has significant tangible assets.
“In these circumstances, Centric has the ability and appetite to combine ABL with a cash flow strip, delivering the higher quantum that is so often required in a private equity sponsored deal.”
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