Waterjet Industries completes management buyout with cash injection from Propel
“Without the additional cash, I’d still be talking about a buyout today – this loan enabled me to take my business to the next level.”
Daniel Stanley, Managing Director, Waterjet Industries Ltd
Launched in 2007, Waterjet Industries aims to be the first choice for any water cutting requirements using industrial tools capable of cutting a wide variety of materials using high pressure water. With two precision waterjet machines, Waterjet Industries work with businesses in sectors including aerospace, automotive, marine, oil and gas, power generation and precision engineering.
Daniel Stanley, Managing Director at Waterjet Industries had managed to personally raise some of the funding he needed to complete the management buyout (MBO) but needed a further injection of cash to get it over the line, explaining: “Without additional cash, I’d still be talking about a buyout today – I needed a loan to take my business to the next level.”
The team at Propel were able to lend a hand with an £80,000 loan to complete a management buyout.
Now, as sole managing director at Waterjet Industries, Daniel aims to expand his business through operating the machinery 24 hours a day and seven days a week. This means that he can ultimately take on more business and recruit more staff.
Daniel Stanley added: “I contacted a number of business finance providers but Propel offered me the highest value on my machinery and gave the quickest decision. The whole process was made very easy and having an account manager at the end of the phone really helped. They also sent a local representative out to the premises to discuss the options available to me which was fantastic.”
Matt Jones, Head of Asset Finance at Propel, said, “Waterjet Industries proves that it’s not just start-ups who need additional funding. As a business that’s ten years old, it needed a loan to help take the business onto the next chapter. As Daniel says himself, without the cash injection from Propel he would still be in limbo today. Daniel clearly has big ambitions for the future of the company and was able to work with us to release some of the value from his machinery and enable his ambitions – without having to compromise cashflow.”
Contact us on 01633 415222 to discover how Propel can help you power your business momentum.