The Price Bailey strategic corporate finance team recently assisted with a successful £1.25m funding line for Denchi Power, a supplier of batteries to the British military.
Denchi Power is a leading manufacturer of Lithium-ion batteries and chargers, predominantly supplying the UK and international Defence sectors. The Company has built a solid reputation for manufacturing and supplying highly reliable and robust products. The Company has its manufacturing facilities in North Scotland and a sales office in Oxford.
The Price Bailey strategic corporate finance team, based in Cambridge, provided an evaluation of Denchi Power’s business plan and financial model and working with their management team approached potential investors.
Price Bailey successfully secured an invoice discounting facility in excess of £1m for Denchi Power, leading the negotiations and ensuring the level funding and facility terms were favourable and met the shareholders and management requirements.
Simon Blake, corporate finance partner at Price Bailey, the accountancy firm advising Denchi, said: “We worked with Denchi’s management team to identify its growth expectations, future strategic vision and funding requirements.
“The decision was taken to initially leverage the company’s existing debtor book, which was unencumbered. This funding solution has the advantage of the shareholders not having to dilute their existing equity stake in the company as well as paving the way for additional future funding.”
Nick Russel Managing Director, at Denchi Power said: “Price Bailey’s Strategic Corporate Finance team helped us to crystalise our ideas and future growth plans and added a great deal of value in a short timeframe. We are very pleased to have secured the facility with Secure Trust Bank, which Price Bailey has worked hard to get in place in a timely and efficient manner.”