Experienced business advisors, Central Finance have raised a six-figure finance package for Halesowen business EuroFreight Shipping Agencies Ltd to fund the management buyout of the freight forwarding business, to diversify the service provision and securing the future of the business under sole ownership.
EuroFreight Shipping Agencies Ltd, established in 1991, are a dynamic, ambitious international freight forwarding business with a collective of 90 years’ experience in exporting and importing of cargoes to and from worldwide destinations via road, sea and air/express approached Central Finance to access finance to buy out the former owner and to focus on new markets for the freight forwarder.
The Midlands based financial consultancy, who have over sixty years’ collective experience in commercial finance including; business development loans, commercial mortgages, peer to peer finance and grants sourced a Peer to Peer finance package via ThinCats, which allowed shareholder Rick Alphonso to buy out the former owner and to focus on new markets for the freight forwarder.
Rick Alphonso, Managing Director, EuroFreight says: “I have worked in freight forwarding for many years, and have been a director of EuroFreight for the last two. When an opportunity came along to buy-out my former shareholder and put into practice some of the ideas I have to drive business expansion, it was clear I needed expert advice on gaining finance.
“Finding the right finance to purchase the entirety of the business was key to the buy-out and securing the future of EuroFreight. I couldn’t have done it alone. It was clear after meeting Steve, who has years of experience working with small to large businesses to access business finance that Central Finance would help me achieve my aim to own EuroFreight outright for the right price.”
Rick Alphonso goes on to say: “Central Finance took the time to understand my business objectives, the trading history, the potential and how I could achieve the buy-out swiftly and successfully. Their track record in accessing finance and their ability to understand the lending criteria and small print, and ultimately taking away the late nights and most of all the headache of form filling has provided a sustainable, positive outlook for the future of EuroFreight.”
“The funds have not only allowed me to buy out my former business partner, but will also allow us to drive expansion in the road and sea divisions of the business with a new sales and marketing plan and provide bespoke services to the Far East.”