The economy has left many businesses in the North East cash-starved, unable to secure investment – stuck in a holding pattern of day-to-day operation, with no real prospect of growth.
However, at Muckle LLP we continue to make introductions to a wide range of finance sources for different types of funding which could help these businesses attract investment. This is so often the key to helping them realise their ambitions and create growth.
Through my work as a director of the Turnaround Management Association (UK) I have built some strong relationships with a number of distressed turnaround funds such as RCapital, which are ready and willing to invest here in the North East.
They’re seeking new investment opportunities outside London as their own geographic markets are at saturation point. They are turning their attention to areas like the North East, looking to use collaborative partnerships with organisations like Muckle LLP to help them identify opportunities. This is introducing a new dynamic and previously un-tapped opportunities to attract investment.
Businesses usually approach their accountant or a corporate financier for support on these matters. However, we have seen these traditional routes and mechanisms to investment fail to provide adequate capital for financially distressed businesses. We have then advised them from the distressed turnaround perspective and have been able to secure investment – up to £10m in one case.
At Muckle LLP, the Banking and Restructuring Team has daily contact with banks and borrowers, giving us a strong understanding of their appetite for lending. We also work with firms which are looking to be refinanced, ensuring we understand their needs and can provide appropriate introductions to those distressed turnaround investors who are seeking for investment opportunities here.
As a result of the diverse nature of what we do, the geographical areas we operate in and the strength of connections we have through the Turnaround Management Association, we have the right networks to create opportunities for businesses.
So, whilst a law firm might not be the first place a business might look for support on financial matters, Muckle can help you take a different approach.
If you need help with investment please contact Andrew Cawkwell on 0191 211 7957.