The Castle Square Corporate Finance team advised shareholders and management team of FISC in a cash out transaction, which also resulted in senior management being allocated equity rights in the business.
FISC was founded by entrepreneur Dave Smith and under his leadership the company has grown to become one of the UK’s leading designers of software packages for the Motor Retail, Finance and Insurance Industries, offering off the shelf and bespoke software solutions and business consultancy.
The company counts PSA, the finance arm of Peugeot, and Porsche amongst its blue chip customer base. The finance was negotiated from Royal Bank of Scotland by Director Kevan Shaw, who said “We are delighted to have completed this transaction for the shareholders and management, delivering an unsecured cash flow led finance package in challenging banking market conditions.
This shows that banks are still lending to well managed businesses such as FISC, who have a quality, cash generative earnings stream and a blue chip customer base”.
