THE COMPANY

Established in 1985 with its headquarters in Cornwall, Spinnaker is the world leader in the manufacture of cash protection solutions for the tracking, transport and storage of cash, vehicles and ATMs.

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CHALLENGE

Spinnaker was seeking finance to facilitate the repayment of shareholder loan notes and to fund its future growth. We engaged with Spinnaker’s management team to understand the nature of the business, their specific funding needs and working capital requirements to support growth.

We condensed management information into a concise and compelling lender presentation pack, analysing and modelling the cash flow forecasts to determine the right level of funding required. We assessed affordability for the benefit of both Spinnaker and the lender that underpinned a detailed funding proposal to support the application to Caple.

To allow Spinnaker’s management team to focus on running the business, we also supported and streamlined the application process and led negotiations with the funder.

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OUTCOME

Through our support, Spinnaker applied for finance to cover its funding needs including working capital requirements. This was achieved through a £3m unsecured business loan from Caple which allowed Spinnaker to continue with its R&D programme to develop new products and to continue with its recruitment plans as part of its overall growth strategy.