Member Article

The Fine Event Co. secures £100k funding

The Fine Event Co., a leading premium event food operator, has secured a £100K funding package from Genesis Asset Finance to support its acquisition of contracts and assets from an another industry operator. The deal saw the Fine Event Co. bring a complimentary product offering, which is currently outsourced, in-house. The funding enabled the Fine Event Co. to meet the upfront cost of the acquisition and to generate increased revenue and margins from the newly integrated product offering.

The acquisition of the contracts and assets is a significant step in the Fine Event Co.’s mission to be the leading provider of premium quality food to the UK premium events market. The enlarged product offering will enable the Fine Event Co. to cater to the premium events market throughout the year, a significant development in an industry that is traditionally seasonal.

The Fine Event Co. Managing Director and Chief Taster, Chris Peedell, commented: “This acquisition widens our product offering and adds to our already established brand portfolio. Our focus on service, quality and transparency really set us apart and this enables us to bring that same focus to new markets. To complete the acquisition the right funding needed to be in place with a lender who understood our aims and business model. We couldn’t have carried this through without the support of Genesis Asset Finance.”

The deal was assisted by Tim Jones, Director at Start Point Finance, who said: “This deal wouldn’t have happened without Genesis Asset Finance. We were let down by another funder who changed their mind with just over a week to go to completion; I don’t believe that anyone else could have understood the complexities of the acquisition and structured an appropriate funding package in such a short space of time.”

Andrew Frost, Business Development Manager at Genesis Asset Finance, added: “We pride ourselves on our flexibility to respond to the changing requirements of an acquisition. In this instance our ability to adapt quickly to the dynamics of the deal enabled completion within the short 1-week timeframe available. We’re delighted to support the Fine Event Co. As summer approaches this move will enable the business to cater to a wider range of customers and continue its already impressive growth.”

This was posted in Bdaily's Members' News section by Andrew Frost .