State Securities provides bespoke funding package for leading waste management group

Key points :

• State Securities provides tailored finance package to allow purchase of recycling equipment from company in administration
• Funding allows the company to maintain stability and ensures job security

Tuesday, 07 October 2008: State Securities has assisted a leading waste management operation by providing finance for the purchase of assets from one of the group’s companies by another when it went into administration.

The waste management specialists, based in the south of England, have seen extensive growth in the waste management sector, including skip hire, waste recycling and investment in modern transfer stations. The company provides total waste management solutions for both trade and private customers.

The deal was introduced to Ralph Robertson, Regional Director at State Securities, via a broker. Ralph commented, “The deal was fairly lengthy and complex as some of the equipment involved was aged, which deterred other funders. However, State Securities specialise in non-straight forward deals, so we were happy to formulate a finance package. A £270,000 sale and lease back deal was split in two – one at 30 months and one at 48 months to take in to account the age of the equipment.”

The successful completion of the deal meant the business was able to keep running and there was job security for the employees.

Ralph added, “The deal provided an excellent example of our commitment to providing practical, workable funding solutions, particularly in situations that traditional finance companies avoid.”

For more information on State Securities Asset finance products, contact Ralph Robertson, tel 01489 775611 or visit www.statesecurities.co.uk

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Notes to Editors :

State Securities

State Securities has over 27 years experience assisting business customers who are looking to raise finance for the acquisition of new or used assets, along with the re-financing of assets already owned by the business. It also provides Commercial Mortgages for properties including factories, warehouses, offices and retail outlets and Factoring for State Securities type customers to help improve their cash management and to assist in trying to provide a complete finance package.

State Securities supports a wide range of clients, including public and private limited companies, partnerships and sole traders, and can also help companies that have difficulty in raising finance in a short period of time, for example new start businesses. Additionally, it specialises in assisting businesses in company or individual voluntary arrangements.

Head office : Burlington House, Botleigh Grange Office Campus, Grange Drive, Hedge End, Southampton, Hants SO30 2AF, t 01489 775600, f 01489 775601

Visit www.statesecurities.co.uk