Established in 1991, this group of companies provides integrated supply chain solutions in metropolitan areas across Australia and New Zealand. They specialise in customised, on-demand transport and logistics services across a wide range of industries, including industrial, consumer and health.
The group already had financing with a major bank; however sought an alternative funding source that would allow them to repay their bank finance and free up working capital.
The company’s financial adviser approached Octet for a solution that would provide the additional working capital the group needed, allowing for greater flexibility to capitalise on productivity improvements and growth opportunities.
Whilst numerous factors, including unsupportive banking relationships, had led to a recent profit downturn for group, Octet was confident that the new management team’s robust plan would turn the business around in the near future. Octet therefore supplied a Debtor Finance solution of $8 million to nine entities within the group, allowing several entities to share a single, flexible finance facility.
The Debtor Finance facility will support the company to fund various projects to return it to financial health, enabling them to manage cash flows with maximum efficiency.