Business Bio

Venture Engineering Group (“VPEG”) is the holding company of four engineering businesses which have a strength in the aerospace sector.

Loan Amount

£5,000,000

Region

South West

Loan Type

Refinance

Sector

Manufacturing


Their Journey

ThinCats has delivered a £5m senior debt facility in support of Poole-headquartered Venture Engineering Group’s acquisitions and growth capital. Its most recent acquisition takes the total number of employees in the Group to 120.

Drew Mellor, Chairman of Venture Equity Partners, said: “The refinance structured by ThinCats provides a platform for scale through both organic growth and acquisitions. Our latest acquisition enhances our national presence by securing our first northern hub as well as expanding the Group’s automotive engineering capabilities.”

He continued: “As a funding provider, ThinCats has been absolutely brilliant. They are thoroughly professional in the way they work and have a straight-talking, no-nonsense approach to deal-making that is a breath of fresh air in the market. Right from the start, they were clear on what they could deliver and how they differentiate themselves. In complete contrast with traditional funding providers, ThinCats delivered a level of personal service that you simply wouldn’t get elsewhere. We will definitely involve them in supporting our future acquisition plans.”

Steve Fahy, founder of boutique corporate finance company, Working Capital Specialists Ltd, commented: “Venture Engineering has an ambitious plan to build a cutting-edge group through a mixture of organic and acquisitive growth. With Venture Engineering based on the South Coast with a bias towards aerospace and an acquisition located in the North West with a bias towards automotive, this has made for a perfect fit.”

“We always knew that we wanted ThinCats to be a potential funding partner on this transaction. You don’t ever feel that you are dealing with a remote credit function that’s sitting in an ivory tower somewhere. The team is accessible, committed to building relationships at a local level and actively demonstrates the tenacity and enthusiasm that gets deals through. The transaction with ThinCats was very straightforward, generating a high level of working capital to secure the acquisition but without the need for the acquiring party to give up equity.”

Andrew Tapsell, Director, Regional Business Development at ThinCats, added: “We are delighted to have supported Drew Mellor and the management team in securing this important acquisition. This deal needed to be delivered in a timely manner and without additional external due diligence into the target company. It is very rewarding to work on deals that combine synergy and scale and increase long-term shareholder value, in this case expanding both geographical and sector reach significantly.”

 

ThinCats delivered a level of personal service that you simply wouldn’t get elsewhere. We will definitely involve them in supporting our future acquisition plans.

Drew Mellor, Chairman of Venture Equity Partners

 

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