Set and Match Ltd, a Birmingham-based SME in the printing industry, has secured its growth trajectory following a management buyout, thanks to an Asset-Based Lending (ABL) deal facilitated by Time Finance.
The funding package, comprising a £70,000 Invoice Finance facility and a £70,000 Secured Loan, has enabled Managing Director Stuart Mills to acquire the remaining shares from existing shareholders. The £140,000 deal, arranged through Time Finance’s broker partner, Paul Varley of Navigate Commercial Finance, demonstrates the flexibility of ABL, a funding solution traditionally associated with larger deals.
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Rob Walters, Business Development Manager at Time Finance, noted the adaptability of ABL for SMEs: “When we were introduced to Stuart, it was assumed that a straightforward loan would suffice due to the company’s size. However, we recognised that Asset-Based Lending could provide a more tailored solution. Many small businesses overlook ABL because traditional lenders often reserve it for larger transactions. At Time Finance, we break that mould, offering ABL deals ranging from £25,000 to £3.5 million.”
Launched in 2022, Time Finance’s ABL solution enables businesses to unlock working capital by leveraging assets such as machinery, equipment, stock, commercial property, and invoices.
Stuart Mills, Managing Director of Set and Match, expressed his satisfaction with the deal: “After over 20 years as a business owner, ABL was not a funding option I had previously considered. However, it made perfect sense to utilise the existing assets within the business. This flexible funding solution has allowed me to complete the share purchase and continue to invest in the growth of the company.”
Paul Varley, Managing Director of Navigate Commercial Finance, added: “I’m pleased to have supported Stuart and Set and Match in this significant step forward. With the right funding partner in Time Finance, the business is now well-positioned for future growth under Stuart’s leadership.”
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By GlobalDataSet and Match Ltd, established in 1992 by John Mills and Jim Reely, originally focused on typesetting before expanding into traditional printing in 2002 with the acquisition of a print business. The management buyout now allows Stuart Mills to merge Set and Match with Colprint, taking full ownership and focusing on expanding their print services.
