GE Capital has provided Redditch-based Visual
Foods Holdings Ltd with a £4.75m working capital facility,
comprising a £3.5 million invoice discounting facility, and a £1.25
million inventory finance facility.
The injection allowed Visual’s management team
to buy out the business, including subsidiaries Visual Foods Ltd
and Dragon Delight Foodservice Ltd, from parent group British
Seafood, which entered administration in February.
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The transactions were completed just over 3
weeks after Visual’s initial enquiry, and will enable the business
to continue trading under its new name, without losing
employees.
Drew Johnson, GE Capital’s regional director
responsible for the deal, commented: “The past year or so has
been exceptionally difficult for many small and medium-sized
businesses, and we were keen to help a well-managed company who we
are confident will continue to be successful for years to
come.
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