Case Study: Asset valuation services facilitates management buy-out of Siddall and Hilton Products

Published on: 1st April 2016

Siddall and Hilton Products Ltd are a firm involved in the production and distribution of welded wire mesh, including fencing panels, which are sold to fencing systems suppliers and distributors throughout the UK, and overseas.

The company has been family owned since it was founded in 1898 and the recent management buy-out facilitated an exit for the Siddall family and other shareholders. It also will allow those left within the Siddall and Hilton Group the opportunity to focus on its other business interests.

Our Asset based lending department provided the company with asset valuation services, offering advice for inventory and plant and machinery asset valuation. We were also able to provide Siddall and Hilton Products with accounts receivable collateral review advice on behalf of the management team, their advisors and the asset based lenders.

Our specialist asset based lending advisors were able to pull together all asset classes and form eligibility and value viability opinions for the benefit of the management buy-out team. This allowed the lenders the ability to set parameters of suitable lending levels for now and in the future.

Ian Thurley, Finance Director at Siddall & Hilton Products Ltd said:

"Sanderson Weatherall were engaged at very short notice and the highly confidential nature of the project required that work was completed with a great deal of circumspection. Christian conducted the exercise in a thoroughly professional manner and worked tirelessly to produce a quality report to extremely tight deadlines.

Sanderson Weatherall's asset based lending team quickly picked up the salient points of our stock valuation methodology, conducted a full review of our debtors ledger and undertook a review and valuation of our fixed assets. The final report was accepted by our funders without need for further recourse; a significant step towards facilitating the resulting deal.

I would not hesitate to use SW again and would recommend them to anyone seeking similar services."

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Asset based lending

Asset Based Lending ("ABL") is becoming an increasingly popular alternative to traditional funding. ABL allows businesses to acquire funding against all asset classes including; • Accounts Receivable• Inventory• Plant & Machinery• Property Here at Sanderson Weatherall, we provide specialist advice and support to Asset Based Lenders across the UK and Ireland; supporting both domestic UK and cross border European transactions. Our advice also extends further to Corporate Finance Advisors, Private Equity Investors and direct to businesses. Collateral valuations and due diligence surveys are an important part of the secured asset based lenders considerations when considering new and reviewing existing portfolio - ABL transactions and are a major requirement of the credit process. These valuations and surveys support the lenders structured deal offering and are vital in the decision making process for secured lending on acquisitions, refinance and MBO/MBI deals. We have a unique team with extensive UK, European and US experience in collateral valuation, due diligence, risk profiling, portfolio management and exit strategy. We offer collateral valuation and due diligence primarily on the following asset classes: • Accounts Receivable• Commodity Inventory• Commercial and Industrial Manufacturing Inventory• Wholesale Inventory• Plant and Machinery• Property With the knowledge and experience here at Sanderson Weatherall, given our national coverage, we have the range of skills to support the needs for collateral reviews, due diligence, valuation for all secured lending requirements; whether new business, managing existing lending portfolios or advising on risk and recovery profiles. Click here to view our recent case studies

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