MBO completed with help from finance provider

With two precision waterjet machines, Waterjet Industries works with businesses in numerous sectors including aerospace, automotive, marine, oil and gas, power generation and precision engineering.

Daniel Stanley, managing director at Waterjet Industries, had managed to personally raise some of the funding he needed to complete the management buyout but needed a further injection of cash to get it over the line, and this is where Henry Howard Finance was able to lend a hand. Two waterjet cutters were used as collateral for the loan.

“I contacted a number of business finance providers, but Henry Howard Finance offered me the highest value on my machinery and gave the quickest decision," explains Daniel. "The whole process was made very easy and having an account manager at the end of the phone really helped. They also sent their local relationship manager out to the premises to discuss the options available to me, which was fantastic.”

Now, as sole managing director at Waterjet Industries, Daniel Stanley aims to expand his business through operating the machinery 24/7. This means that he can take on more business and recruit more staff.

Matt Jones, head of asset finance at Henry Howard Finance, says: “Waterjet Industries proves that it’s not just start-ups who need additional funding. As a business that’s 10 years old, it needed a loan to help take the business onto the next chapter. As Daniel says himself, without the cash injection, he would still be in limbo today.

“Daniel clearly has big ambitions for the future of the company and was happy to release some of the value from his machinery to enable his ambitions – without having to compromise cashflow.

“We pride ourselves on our flexibility when it comes to helping with finance solutions – all of our customers have a dedicated account manager to help them through the process, and, if needed, are happy to attend face-to-face meetings to talk to you in person about your requirements.”