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Press Release

HOSKYN CHILD INTERNATIONAL TO LAUNCH NEW MEZZANINE FUNDING ARM

 

Hoskyn Child International are launching a new form of mezzanine funding aimed squarely at the £250,000 - £5m funding bracket for commercial and professional companies.

Trading as Janus Venture Finance has been formed on the back of a highly successful trial period, during which time a series of mezzanine funding advances were made. These included:

  • An advance of £350,000 for a nine-month period to a medium sized legal practice based in the South East of England, which was secured on Work in Progress.
  • The purchase of an UK based company in receivership - an advance of £750,000 for a 6-month period secured on an all asset debenture and an equity stake.
  • A twelve-month bridging facility for a medium sized utility sector supplier- an advance of £1.1m secured on intellectual property and an equity stake.
  • A manufacturing joint venture with a Chinese based partner financed through a revolving credit facility capped at £1.2m over 12 months - secured on orders and stock.
  • An UK and China joint venture partnership with an investment on plant and machinery of $5m, amortised over 3 years.
  • A rolling salary bank facility of £180,000 for a medium sized legal practice based in the UK - renewable monthly and secured on the practice's corporate book debt.

Janus Venture Finance is aimed at a wide selection of businesses, ranging from manufacturers through to professional firms. It will provide mezzanine funding on a short to medium term basis, ranging from 3 months to a maximum of 364 days.

Hoskyn Child's chairman Jonathan Wooller said:

"The evaluation for the advances made takes into account a far broader scope of security available, which traditional funders may not naturally consider. The security we seek varies from the usual PG and debenture arrangements through to charges over less traditional security such as work in progress, intellectual property, all asset debentures and order books."

In cases where there is perceived to be a higher than normal risk and where assets are less substantial, indeed where the debt is judged to be more difficult to recover in the event of a default, Janus's advances may be supplemented by an equity stake via ordinary shares or convertible options.

Each proposition is initially evaluated by Hoskyn Child International, who have been appointed to appraise all enquiries. Hoskyn Child International will provide all the due diligence and contractual work required to bring the deal through to fruition.

We aim to offer a flexible approach to quality proposals, whether the funds are to be utilised for acquisitions; MBIs; MBOs; consolidation; short term restructuring; general business expansion; or indeed any worthy well planned business activity.

Whilst we do support acquisitions from insolvency sources, we do not generally consider start up business proposals as being suitable for our type of funding structure. More often we look for businesses that have been established for at least 12 months with a successful track record, a sound product or service and, most importantly, a good management team.

Janus Venture Finance was officially launched in Spring 2005.

Notes To Editors:

1) For more information, or for pictures of Jonathan Wooller please contact us on 01322 424594

2) The Janus Venture Finance team will operate from offices in Dartford, Kent.

3) For more information please visit www.janusventurefinance.co.uk

 
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