Acquisition Of French IT Provider Funded By Invoice Finance

The solutions being delivered manage vehicle leasing and rental operations for its clients; helping those companies monitor profitability and plan optimum usage of their vehicle fleets.

The IT company’s €2.5 million turnover is generated primarily from annual service contracts, and from fees for system development.

TAEFL was called in by the UK organisation to identify an appropriate source of €500,000 funding to finance the deal. Given the very high quality of the French company’s debtor list – all high profile vehicle leasing and rental operators – invoice finance was considered to be a viable and cost-effective route.

Presentation of the proposition by TAEFL secured the support of the European head of an international finance company, who recommended the deal to the groups' French subsidiary