Innovative funding deal secured for market leading equestrian business
Our asset based lending team assisted Matchmakers International Limited (“Matchmakers”) by completing valuations and advisory work for the company’s proposed new trade and receivables refinancing purposes.
Matchmakers are one of the oldest and most established equestrian brands in the world. Dealing in both wholesale, distribution and retail the company provide equestrian products for horses, riders and any related equestrian activities.
All of Matchmakers products are designed, developed and dispatched from their offices in Bradford, West Yorkshire. Products are sold to a range of retailers including large multinationals, single store independents, independent chains and small retailers.
We were engaged by the proposed new funder, Bibby Trade Services to provide a full valuation of all of Matchmakers current inventory for a proposed new trade and receivables loan facility.
The majority of their inventory was stored on site in Bradford in an extensive 85,000 sq ft warehouse. The inventory is held in 6 principal brands, 5 of which are owned by the business with the other held on a distribution agreement with licenses to sell into the UK and Ireland. Items included footwear, headwear, safety equipment, rugs, saddles, collars, horse jackets and much more.
Funding was provided by Bibby Trade Services who structured the innovate new deal that will allow Matchmakers to reorganise their debt obligations through a corporate refinancing deal.
Mark Hargreaves, director at Matchmakers said, “Sanderson Weatherall were appointed to work for the potential funders as part of our business refinance strategy. The work that was completed by Christian Humphreys and his team was of really high quality throughout and so I look forward to working with Sanderson Weatherall again, hopefully soon”.