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Cameron-Price, based in Stirchley, is a specialist injection moulding and assembly business of high-value technical components predominantly for the automotive industry. It is a strategic supplier to Tier One businesses, as well as having strong relationships directly with OEMs including JLR, Toyota, Ford and Nissan.
The Bank’s team of automotive and acquisition finance specialists created a tailor-made funding package which combined cash flow loans, a property mortgage and working capital facilities. This enabled Barry Moor, Managing Director since 2011, to acquire a majority stake in the business after 21 years of service and provided for the retirement of CEO Tony Banks MBE.
The Bank’s high level of sector expertise and the structured financial approach were acknowledged by Barry Moor and Cameron-Price advisors.
“We were delighted to receive the backing of the Bank for the transaction. The team showed a genuine depth of understanding of how our business operates and they structured the deal in such a way that we could benefit from both asset-backed and cashflow finance”, said Barry Moor.
Roy Farmer, Dains Corporate Finance, added “The deal provides Barry and his team with the potential to take Cameron-Price to the next level. There are a number of strands to the financing structure which combines efficient use of the company’s strong asset base alongside cash flow lending”.
Meg Salt, Automotive Director commented “It is Cameron-Price’s effective leadership, drive for efficiencies and ambitious growth plans that really stand out for the team at the Bank. The business has a long track record as a specialist injection moulding business, but under Barry’s leadership the business has moved up the chain by supplying parts often direct to track side on a ‘Just-in-Time’ basis”.
Ian Hardman, Head of SME Cash flow Finance, added “We were impressed by what we saw at Cameron-Price from the outset. Barry has ambitious plans for the business and we look forward to partnering with him as the business grows.”
They structured the deal in such a way that we could benefit from both asset-backed and cashflow finance
Barry Moor, Managing Director, Cameron-Price
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