Spring Ventures - springboard for a major new force in SME asset based lending

RSM’s Transaction services team provided financial due diligence for Spring Ventures on their buyout of IGF Invoice Finance.

The client

Spring Ventures is a private equity investor that specialises in management buyouts of UK companies with strong growth potential; healthcare is one of its four key sectors. The proven experience of the IGF team of building successful new lending businesses, together with Spring Ventures’ financial backing, means IGF is well-placed to take advantage of a funding gap in the market for dynamic and flexible SME lending providers. Headquartered in Tonbridge, Kent, IGF currently has a loan book of £20m but aims to grow the book to £300m+ through provision of a full range of asset based loans focused on the SME market and delivered by an industry-leading team.

What RSM did

RSM provided financial due diligence for Spring Ventures on their buyout of IGF Invoice Finance, supporting John Onslow, the former CEO of Centric Commercial Finance, to build an SME focused Asset Based Lender. Spring Ventures committed £20m of equity. The transaction represents another deal for RSM’s specialty finance team, which uses a cross-service line team of FDD and commercial lending experience to deliver real value. 

Testimonial

RSM’s team were able to provide insight and challenge which genuinely added value. The team brought a wealth of sector expertise and were very responsive which helped achieve a successful outcome to the process.
Spring Ventures

Transaction team

Jonathan Wade, Partner - 07917 603 218
Rebecca Guerin, Partner - 07932 668919
Edward Hooper, Associate Director - 07436 262 342
Steve Merchant, Asset Based Lending Partner - 07827 814 920