ORBIS ADVISE BROADRIVER HOLDINGS ON ITS DISPOSAL TO AN EMPLOYEE OWNERSHIP TRUST WHILST RAISING FINANCE FROM VIRGIN MONEY

BUSINESS OVERVIEW

The Broadriver Group (“Broadriver”) is made up of 3 trading businesses; Controlaccount Ltd, Sinclair Taylor Management and Datatrace Consumer Services.

As a Group, Broadriver provides a blue chip client base with innovative back office outsourced solutions including Commercial Debt Collection, Cash Management Solutions, Tracing, Intelligence Reporting Services and Property Sector Debt Solutions.

Orbis have been working with the Broadriver shareholders on their succession plans for a number of years. Ultimately the shareholders decided to sell their shares to an Employee Ownership Trust to maintain stability for the Group while encouraging employee engagement, retention and motivation.

As part of the transaction Orbis sourced finance offers from a number of debt providers, before working closely with Virgin Money to provide cashflow lending facilities.

The team at Orbis have worked tirelessly for the Group throughout the whole of the project and achieved an excellent final result with little deviation from the original brief.

David Harvey, Group MD

OUR ROLE

Orbis worked closely with the shareholders of Broadriver on their succession plans. Specifically, we:

Conducted a valuation of the Group providing the basis of the EOT transaction.
Identified potential funders who would be interested in the opportunity.
Spent time with the shareholders to understand the unique selling points of the business and presented these to the potential funders.
Prepared detailed monthly financial forecasts for a three-year period, incorporating an integrated profit and loss, balance sheet and cash flow, discussing, challenging and agreeing forecast growth assumptions with Broadriver management.
Managed the preparation and flow of information throughout the diligence process.
Introduced Broadriver shareholders to tax and legal advisers with a wealth of Employee Ownership Trust transaction and fundraising experience.
Worked alongside the tax and legal advisors to ensure both transactions were structured and completed properly and in the most tax efficient manner.
Ensured effective liaison and communication between both parties and all advisors throughout the deal process to deliver a successful outcome.
Negotiated key commercial aspects of the bank Facility Agreement to ensure the successful completion of the deal.
Overall project management through to a successful conclusion.