A financially distressed agricultural contractor company specialising in large scale slurry pumping with high output, web app, in-cab controlled equipment.  Highly seasonal operations meaning timing critical.

A successful outcome for multiple stakeholders realising £220k.

The brief:

• We were instructed by proposed Liquidator to prepare a red book valuation of all assets comprising specialist large scale slurry pumping equipment.
• Particular attention required to extensive finance and charge interests.
• Multi-funding interest in upgraded specialist assets.

Our solution:

• Early on it became clear that there were shortfalls in most of the finance agreements.
• The specialist nature of the assets and highly seasonal nature of the work carried out suggested a short notice private treaty sale with a sale of all assets providing the best potential overall outcome.
• Co-ordinated collection and storage of assets managed at two sites.
• Pre-agreed apportionments of proceeds implemented where multi finance interest.
• Targeted direct marketing to similar businesses.

The results:

• Two of the larger finance interests paid out in full and equity realised.
• Good end-user interest resulted in valuations exceeded for owned and financed assets – a result of reaching end users by direct marketing and assets being offered in short order taking advantage of the remaining seasonal window.
• The overall realisation was enhanced by engaging with all stakeholders and demonstrating specialist sector knowledge and expertise and pre-existing relationships with the major finance companies.