Hilton Smythe Finance were contact by a specialist Estate Agency acquisition consultancy to support an established Estate Agency with their financing challenge. After growing their estate agency business organically over the last 12 years, the client wished to take advantage of an opportunity to grow the business quickly through an acquisition of a similar sized competitor agency. The client had already approached some lenders but was only able to secure a maximum loan of £150,000 which was nowhere near sufficient. With a purchase price of just over half a million, and a cash contribution of £60k, we managed to secure an unsecured loan of £325k on a rate of 10.25%, with the remainder being deferred over a number of years.
We were please to get the following feedback from the client:
“Paul from Hilton Smythe assisted us in finding funding for an acquisition. After exploring the market ourselves we soon realised we needed a professional and were recommended Paul. He immediately understood our needs and started contacting lenders. We then were able to secure funding and complete on the acquisition. Without Paul this wouldn’t have been possible.”
