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Expert Tooling Automation Ltd.

Type: Invoice Finance

Borrowed: £8,000,000

Expert Tooling Automation Ltd. came to Nucleus because they needed to replace their existing ID facility whilst retaining the same pre-payment and funding limit.

Established in 1972, Expert Tooling Automation Ltd. is a highly respected supplier and manufacturer for the British automotive industry. Expert is the largest Automation System builder in the UK, supplying specialist assembly line components to clients including Jaguar Landrover, Aston Martin and Nissan.     
This heritage manufacturing business has gone from strength to strength in recent years, increasing turnover by five times in under seven years. Previously funded by a bank, the company needed to replace their existing Invoice Discounting facility when their provider pulled back funding. Although still retaining a solid balance sheet and order book, after several overseas contracts ran into difficulty Expert were asked to seek alternatives.
After consulting their broker, Expert was recommended to several finance providers. The deal was complex, with a high concentration needed for one of the debtors and it required a specialist understanding of the industry to structure the facility appropriately and support the client’s operations. Nucleus was the only funder who were able to fully meet their requirements and was able to match the previous provision to deliver the bespoke £8m Invoice Discounting facility that Expert needed

At Nucleus, we spend time getting to know all the businesses that we fund and this client chose us because of the flexibility and the direct access to decision makers that we offer.

CEO, Angelo Luciano said:
“The reason why we selected Nucleus is that they took the time to understand our business and the challenges around the nature of our project related trading. Nucleus offered a flexible solution that allows us to have other sources of funding where appropriate.”

Chirag Shah, CEO, Nucleus:
“It’s personally rewarding to support businesses that represent the heartland of the British manufacturing and construction industry, a profitable sector that contributes to job creation and driving the UK economy.”

Eric DeArmitt, Sales Director, Nucleus:
“It was a pleasure to work on this project and deliver the solution that was required. It was both rewarding as well as challenging - we brought in external automotive expertise to assist with our due diligence which gave our underwriters the confidence to support this facility. Expert should now be able to move onwards and upwards and achieve their growth targets with the full funding required to support ongoing, as well as new projects.”

To find out more about how our powerful range of funding solutions can give your clients a new lease of life, contact us now on +44 (0)207 839 9451 or email contact@nucleus-cf.co.uk.

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