Shareholder buyout heralds next stage of growth for funder

A significant corporate finance deal has heralded the next stage of growth for one of Northern Ireland's most successful and experienced funders.
By The Newsroom
Published 20th Jan 2016, 06:00 BST
Judith Totten, managing director of Upstream Working Capital with financial director Colin DundasJudith Totten, managing director of Upstream Working Capital with financial director Colin Dundas
Judith Totten, managing director of Upstream Working Capital with financial director Colin Dundas

The six figure buyout of an existing shareholder at Keys Commercial Finance has paved the way for a company rebrand and new focus for 2016, including the introduction of a unique funding product, under the direction of now-majority shareholder, Judith Totten.

With a team of 12, Upstream Working Capital is set to be the leading provider of working capital solutions for NI’s SMEs, having already provided more than £120m of funding to local businesses in the last year alone .

Hide Ad
Hide Ad

The funder offers a veritable mix of services including invoice and asset financing as well as other advisory business services to help stimulate growth among the Province’s SME community. The Trade Finance product in particular is unique to the island of Ireland and is not currently offered in this form by any other funder north or south.

“After funding our own shareholder buyout, we took the decision to diversify the business and take it in a new direction, increasing the funding options available to SMEs and supporting confident growth by providing flexible working capital solutions,” said Ms Totten.

“An SME ourselves, and having just reinvested in our own growth, we believe we understand, more than our competitors, the ambitions and pressures that Northern Ireland businesses face around their growth strategies. When we say we understand, we really do.”

The Trade Finance product is ideally suited to businesses with strong order books but who are currently constrained by limits on their existing funding lines.

Hide Ad
Hide Ad

It supports the supply chain by actually buying the product on the company’s behalf and then giving them a period to pay which is based on the company’s trading cycle.

As it does not impact on existing funding lines or security, it offers fast growing companies with a proven track record the ability to meet demand and enhance profitability.

Recent commentary from Invest NI has shown that Northern Irish business owners are primed for growth in 2016 but access to funding is still potentially a barrier for many.

Related topics:Northern IrelandSMEsInvest NI