Fast action secures funding for food manufacturer
Global is a family owned food manufacturing business specialising in innovative and quality ‘hand-made’ restaurant standard food. It serves the food service and retail sectors and has recently launched its own range of branded products. Global is located in Leicester with 39 employees and a turnover of c. £2m.
Global was in growth phase, but undercapitalised following its purchase via a pre-pack two years before, and needed investment to satisfy legacy creditors, recruit additional staff, working capital and capital expenditure.
The business was being squeezed by its creditors and factoring facility provider and was starting to be unable to fulfil its orders.
Despite the current difficult situation, and chequered history, Orbis recognised that by professionalising the business and improving the internal controls and processes, there was potential for a successful future.
We raised £400k, investing alongside our investor club, within 8 weeks of being introduced to the opportunity and within 4 weeks of our terms being accepted.
It was crucial to strengthen the management team who are very sales focussed. We selected a sector specific Chairman and then recruited a Finance Director with general management capability.
Orbis took a non-executive Director position and performed hands on cash management until the FD was in situ and continue to provide strategic support.