Client Challenge: Turbine Efficiency Group, founded by Alan Hawkins in 2000, focuses on reconditioning gas turbine engines and constructing power generation packages with a capacity of 4mw to 10mw. The business is growing at around 100% per annum and started 2015 with an order book of over £20m, most of it from overseas. The cash constraints to fund the growth are considerable, and the existing Venture Capital provider had reached the limit of its lending and investment capability before any further advances became classified as “state aid”.
Approach: Peter Kroeger was engaged to raise funds to help the business meet and deliver a burgeoning order book. This involved facilitating the process of defining the business growth strategy, encapsulating that in a business plan for internal use, establishing the funding needs, summarising that into an Investment Memorandum, preparing the pitch to financiers, researching and introducing suitable investors and loan providers and negotiating commercial terms.
Outcomes (after 15 months):
Against a tight timescale, Peter introduced BMS Finance who provided £5m by way of “senior debt”.
“Peter Kroeger grasped the nettle on our behalf. We had an opportunity that was too good to miss and needed a large sum of money quickly. His hands on approach and relentless enthusiasm for our cause ensured we are now able to motor ahead. He ran a brilliant campaign on our behalf”
Alan Hawkins, Managing Director, Founder and majority shareholder
“Peter got to grips with our business quickly. He developed strategies and prepared all the documentation to sell our proposition. His attention to detail, clear presentation of options, and creation of the pitch to financiers were always first class. It was a real treat to work with him.”
Brian Geldart, Finance Director
