Notwithstanding the downturn in the economy and the credit
squeeze, Quartz Finance has originated more than £100m of new
business in the first nine months of its year to March 2008. Since
formation, it has grown by 25 per cent each year.
Average transaction sizes are now £2m, while they range from
£50,000 upwards, according to Neil McLaren, director of Quartz
Finance
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The company was formed four years ago by a group of former
Dresdner Kleinwort executives. The company works predominantly with
vendors in the technology and renewable energy sectors in the UK
and mainland Europe, helping them to set up and run customer
finance programmes.
Many of Quartz Finance’s deals are structurally complex and are
receivables based rather than tax based. Most customers are blue
chip and contracts typically consist of an assignment-of-payments
structure. The flexibility of this approach allows the company to
address a wide range of customer and supplier
requirements.
To date, it has structured deals in continental Europe,
including Belgium, Germany, Switzerland, Portugal, Spain, Norway,
Finland and Sweden.
Co-director Kevin Mears said: “Some funders have completely
withdrawn from this sector of the market, while others have
tightened their credit and risk policies to such an extent that it
is difficult for them to fund many types of deal.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHe added: “American funders have been hit particularly hard by
the sub-prime losses and seem to be focusing on a back- to- basics
policy concentrated in the US. Our core funders appear less
concerned. Having underwritten more than £250m with no bad debts,
they are keen to fund further business introduced by Quartz
Finance.”
