CLIENT STORY

Expert Tooling and Automation Ltd

KEY FACTS

  • Industry: Manufacturing - Automotive Industry
  • Amount: £8m
  • Reason: Growth and working capital
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Nucleus offered a flexible solution that allows us to have other sources of funding where appropriate.

Angelo Luciano, CEO | Expert Tooling and Automation Ltd

PRODUCTS USED

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.

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