Central Finance raised a six-figure finance package for Wolverhampton based business Midland Cold Rolled Sections Ltd (MCRS) to fund the business purchase by members from a former competitor management team Russell Eynon and Wayne Fletcher. The purchase will see turnover double at MCRS Ltd in the first year, employ additional engineers and invest further in machinery and infrastructure.
With over sixty years’ collective experience in commercial finance including; business development loans, commercial mortgages, peer to peer finance and grants, Central Finance sourced a business development loan and an invoice discounting facility which allowed Russell Eynon and Wayne Fletcher, experienced directors from a leading competitor purchase MCRS Ltd.
MCRS Ltd is a specialist manufacturer and a major player in the design, manufacture and supply of cold rolled sections for a wide range of construction, industrial, agricultural and automotive clients. A well-established business operating for eight years in Wolverhampton, will under the new ownership, and thanks to funding, drive expansion into new sectors and continue research into developing new products and services, purchase new equipment, and hire additional members of staff.
Wayne Fletcher, Director, MCRS Ltd says: “Having previously worked for another major name in the sector, acquiring MCRS Ltd was an excellent opportunity, but it was clear we needed expert advice on gaining the right finance package to do so.
“Having worked for many years in a similar business, the prospect of collectively using our skills and abilities for our own benefit became more than just a pipe dream thanks to Alison.
“Finding the right finance package to fund this project was key and we couldn’t do it alone. Our aims were and are ambitious, and we wanted to work with someone who could achieve the funds to purchase MCRS Ltd both swiftly and efficiently. It was clear after meeting Alison, who has years of experience working with manufacturers to achieve finance packages of this size that Central Finance would help us achieve our goals and invest in MCRS Ltd.”