Plastic Injection Moulding Company
Our client, a plastic injection moulding company, was facing administration due to growing creditor pressure and a lack of working capital. Whilst the Company had a strong trading history, its management team was struggling to cope with recent growth and its principal bank had lost patience and threatened to withdraw its support.
ReSolve undertook accelerated due diligence and completed a cash investment into the Company within two weeks. This directly resulted in the Company avoiding insolvency, saving around 150 jobs.
As part of the investment a new interim management team was introduced by ReSolve to further enhance the existing management board. This provided fresh impetus and the implementation of a number of key performance measures resulted in improved production efficiencies and financial performance.
As a result of the successful turnaround the Company secured a new long term finance solution which facilitated full repayment of the ReSolve facility.