£500,000 funding for leading phone and computer repairs
We are pleased to announce that we have raised £500,000 for a leading authorised mobile phone and computer repair company.
Our client is the only UK company with full manufacturers’ accreditations from two leading suppliers and is at the forefront of the drive to deliver fast and reliable repair services to a growing repairs market. The company has experienced high growth in the last 12 months. Funding was required to help with short-term cashflow issues and to support the expected accelerated growth over the next 12-24 months.
Investment and Outcome
From our extensive network of High Net Worth investors, we shortlisted and contacted a select number of individuals who we believed would be the right fit for our client. Three corporate investment firms, including two HNW individuals who have previously invested with B&Y, were extremely keen.
While we began engaging with potential investors, our client experienced a brief hiatus in volumes from one of its major patrons. The company quickly became under increased financial pressure.
The B&Y team worked tirelessly, engaging with a consortium comprised of a boutique private equity firm and two HNW individuals. Ultimately, we were able to rapidly raise funds from two investors, avoiding a major cost cutting.
Our client is now not only well-funded but also has two active, experienced investors to help the business reach its market potential.