Page 2 - LeumiABL-Viability-Newsletter-Spring-2020

Strategic growth plans may take on a different shape as we
WELCOME... to Leumi ABL’s Spring Newsletter.
emerge from this crisis and, as always, Leumi ABL is here
In these extraordinary times, in addition to our usual deal
to work closely with clients, advisors and equity providers,
updates and news, we’re sharing some thoughts from
to support you – whatever the new challenges may be.
our Regional Sales Directors on how the Coronavirus
pandemic is affecting businesses across the regions and Leumi ABL is also going through some change as we see
what might be different when we emerge from lockdown. I our CEO, Paul Hird, retire after co-founding the business
hope you find it an interesting read! 14 years ago. Paul retires on 30th June and we wish him
all the very best for his retirement and thank him for
The speed at which Covid-19 has affected the whole world
everything he has done to build the successful reputation
is still difficult for us all to grasp and we have to give thanks
that Leumi ABL now enjoys. He will be doing some non-
to all our frontline workers, particularly those in the NHS,
exec work but also has many plans to enjoy a well-earned
for their amazing work during this very challenging time.
retirement.
Here at Leumi ABL, I’m pleased to say that our business
Having co-founded Leumi ABL with Paul, I will be taking
has been able to operate 100% remotely without
over as CEO. I am, of course, ably assisted by Alan Couzins
interruption or diminution of service delivery to our clients.
who will become COO, and the newly appointed Director
There is much discussion about what the “new” normal of Risk & Compliance, Jeremy Stagg. This ushers in
might look like when we ease out of lockdown. It will be another new era for Leumi ABL, and with our amazing
a changed world for all of us, and while many of the new and experienced team I’m looking forward to seeing the
norms are difficult to predict, it is likely that home working business continue to flourish.
could well be used more in many businesses as employers
Thank you for your continuing
across a range of sectors have come to recognise its
support, and stay safe and well.
efficiency over these past few weeks.
Phil Woodward,
The market post lockdown is difficult to forecast. There will MD, Leumi ABL
be businesses who struggle with the long term effects on
their business and as such, they will be dealing with the To find out more contact
impacts for many months to come and well in to 2021, Phil Woodward on
whilst others will be well placed to seize opportunities 01273 716 202
as they arise. Resilience and adaptability will be key to or pwoodward@leumiabl.co.uk
longer-term business health.

DEAL UPDATE: LEUMI ABL CO-LEADS
£75M FACILITY TO ARGENT FOODS GROUP

Leumi ABL has completed a structured ABL deal for facilities
totalling £74m with Argent Foods Group, a £765m revenue
diversified international food group focused on the fresh fruit,
food supply and meat processing markets.
Leumi ABL worked closely with Argent Foods, their debt advisor
Alvarez and Marsal, and the incumbent provider Lloyds Bank to
accede to a £74m club lending facility comprising £55m invoice
discounting, a £10m revolving credit facility and a £9m term loan.

Argent’s corporate headquarters are in London with operations
in Europe, North America, Africa and Australasia.
John Oldcorn, Argent’s Group CFO, added: “I am delighted
to have Leumi ABL join our bank club as we continue to grow
the business. I was impressed with how quickly the Leumi team
was able to understand the business and the speed of their
decision making process. Leumi ABL’s overall approach,
including with respect to the final structure, showed a flexible
and entrepreneurial attitude throughout that mirrors the culture
of the Argent business.”