FGI Provides AGI with £12 Million Facility
“Due to recent acquisitions, disposals and structural changes in the business, we needed to find a lender who could provide a flexible cross border ABL facility. Additionally, a quick turnaround was of the essence. FGI was able to stick to a clearly defined strategy and timetable, and provide us with a flexible, £12 million AR facility in just 9 weeks.”
Introduction
AGI is a unique global business providing end to end design, print and plastic injection molding for packaging in the entertainment, cosmetic and food industries. One of its major areas of specialization is AGI’s expertise with the production of DVD packaging and cases. Headquartered in the UK, it has key operations in The Netherlands and Poland and entities in France, Ireland, USA & Asia Pacific. AGI’s key trading names are ASG, SparkBrighterThinking and Amaray.
Situation
Due to recent acquisitions, disposals and structural changes in the business, AGI’s financing needs had changed. While this diversely located group had enjoyed an ABL line with a major UK bank for over 6 years, the company now needed to move to a lender who could be flexible and provide a cross border ABL facility, starting with AR and then bringing in equipment and inventory, to support its growth strategy. Additionally, timing was of the essence.
Solution
All these elements played perfectly to FGI’s strengths. FGI’s extensive experience as a multi-jurisdictional cross border lender was crucial in swiftly settling a number of challenges which could easily have caused significant delays. From the earliest conversations with AGI, FGI was able to stick to a clearly defined timetable, providing AGI with a flexible, £12million AR facility in just 9 weeks.
