The Academy of Contemporary Music (ACM) was founded in 1997 to provide higher education courses for students in the contemporary music and arts arena.
It has done this with considerable success, with Ed Sheeran, Newton Faulkner and Kate Nash being amongst its former students. Kainne Clements is the sole shareholder, as well as the owner of Metropolis Studios, Europe’s largest independent studio.
Growth finance, Refinance & Working capital
ACM had invested considerable sums into its infrastructure, focused on the delivery of world class market leading courses from sites at London and Guildford. This led to an increase in student numbers, and the desire to open a third campus in Brighton to offer the courses to even more students.
The growth in the business led to them approaching financial consultants, RSM, whose SME Debt Advisory Team compared a number of different lenders to assist in securing a funding partner who could help capitalise on ACM’s expansion plans. RSM were particularly impressed with: “The ability to speak to real people who can respond quickly.” which they state, “…was a real factor in choosing ThinCats ahead of other lenders.”
Dave Sherrington, who heads business origination at ThinCats across London and the South East, said: “Working with RSM on this deal was a real pleasure. The level of information and understanding of both parties’ requirements allowed us to deliver a compelling solution, quickly.”
We approached a number of funders as part of this process, but what really appealed to ACM was ThinCats strong understanding of the business, and their ability to structure the funding appropriately.