Bank’s commitment energises management buyout deal

The Bank’s commitment, coupled with a speedy response, enabled The Consultus International Group to acquire The Energy Brokers in a complex buyout. The company’s management team also benefitted from the bank’s expert knowledge of the corporate finance sector.

The funding package was highly flexible; combining cashflow finance based on an assessment of the customer’s current and expected cash flows, alongside an invoice finance facility.

The Energy Brokers manages electricity and gas contracts with energy suppliers for industrial and commercial sector clients.

The Leicester-based business was set up in 1994 following de-regulation of the UK’s electricity and gas markets, since then it has built a dedicated energy procurement team. The Energy Brokers is well-respected in the industry for its operational transparency and has developed specialist systems, risk models and wide-ranging energy contracting know-how.

The buyout team was led by managing director Andrew Staley, who has been at the helm of The Energy Brokers since 2009. His new management team comprises industry professionals who are already driving the business forward.

As part of this deal, Consultus also acquired The Waterbuyers, a newly formed company that will expand the operations of the enlarged group into the water and energy efficiency sectors, as well as internationally.

Andrew Staley commented: “We went to the marketplace for debt facilities and the Bank came back promptly, with a competitive offer that not only met our request, but exceeded it by providing additional flexibility. I’m very pleased to be working with the team at the Bank.”

Chris Harris, Director, SME cashflow commented: “Our expertise, understanding of the business and the time spent in getting the deal structure right, were key to the success of winning this business.

“This was a complex and technically challenging buyout deal. We fully grasped the issues and could deliver a flexible solution that was effective for all parties. As a result of close collaboration with our credit team, we completed the deal in just four months after being introduced to Andrew.”

Ian Hardman, Head of SME Cash Flow Finance said “We provided a highly flexible funding package which included a cashflow loan to help drive The Energy Brokers ongoing growth.”