Page 3 - Leumi-ABL-10th-Anniversary-Newsletter

CASE STUDY:
LIBERTY HOUSE GROUP

As the UK steel industry continues to generate headlines,
Leumi ABL is delighted to have supported Liberty House Group with a £20m
Asset Based Lending facility comprising of Invoice Discounting and Stock Finance.
The facility will be utilised by Liberty Tubular Solutions and Liberty Distribution to deliver their
ambitious growth plans that are already gathering pace. As part of Liberty Industries Group, the Liberty Tubular Solutions
and Liberty Distribution Divisions are leading UK manufacturers, distributors and suppliers of steel tubing and specialist tubular
components to the automotive and aerospace industries. The businesses are part of Liberty House Group, part of an international
privately owned business specialising in metals trading and the manufacture and distribution of steel and advanced engineering
products which employs c.3,000 people globally and has a current turnover of approximately $7 billion.

Sanjeev Gupta, Executive Chairman at Liberty House Group, commented: “Leumi ABL are an excellent choice of partner to fund
our growth plans for this recent strategic acquisition for the group. They were able to work quickly and closely with us to deliver
a flexible funding package that will support the growth of our new division. Liberty had access to key senior personnel at Leumi
throughout the process which meant the financing was concluded in good time and in line with expectations, allowing us to move
forward with our exciting plans for the business.”

Rob Wakeford, Regional Sales Director at Leumi ABL, added: “We are delighted to support Liberty House Group at a time when the
state of the UK steel industry is very much in the spotlight. The combination of Leumi’s flexible and personal approach together with
a credit decision made quickly meant that Liberty could move forward with the certainty of funding being in place. We very much
look forward to working with the team at Liberty.”

CASE STUDY: KINDERTONS GROUP

Leumi ABL has provided a £18m structured Invoice Discounting
facility to support the refinancing of Private Equity owned
insurance services business, Kindertons Group.
The refinancing provides flexible funding to support
Kindertons’ growth plans, both organically and through
a targeted buy and build strategy.
Crewe-based Kindertons provides credit hire and accident
management services to its customers, working with its partner
insurers, insurance brokers and garage referrers. The Group also
includes market leading motorcycle credit hire operator, Plantec and taxi
credit hire operator, Sovereign Automotive. Kindertons is focused on providing
exceptional customer service which is recognised by its referrers and customers.
Sovereign Capital, a UK Buy & Build Specialist Private Equity business, invested in Kindertons
in 2013. Since then, the Group’s revenues have grown significantly, to in excess of £90m
in 2015. The Group generates over 35,000 vehicle hires per annum from its nationwide
fleet of approximately 4,000 vehicles delivered from 14 depots.

Nigel Ward, Group Finance Director of Kindertons, said: “We are delighted to have secured this funding from Leumi ABL
to support our growth. Leumi have taken the time to understand the intricacies of our business and market and structured
a facility to meet our requirements. We have already developed a close relationship with Leumi, successfully completed
a further acquisition and look forward to their continued support.”
Rob King, Investment Director at Sovereign Capital, said: “We approached Leumi due to their pragmatic style and ability
to structure business-appropriate financing packages. Leumi has delivered a funding solution which provides significant
flexibility to support the business’s substantial growth.”

Martin Risman, Leumi ABL Regional Sales Director, commented: “It has been a complex process and transaction during
which we appreciated working with excellent teams at both Kindertons and Sovereign Capital. The structure of our facilities,
aligned to the sponsor support, provides a solid funding base from which Kindertons can expand and further prosper.”
Leumi ABL was introduced to the transaction by Litmus Advisory. Legal advice to Leumi ABL was provided by Gateley plc
and Pinsent Masons acted for Kindertons.