AVF Group, a leading AV furniture specialist, has secured a £1.8 million finance facility from Praetura Commercial Finance.
The funding aims to support the group’s growth ambitions by expanding its product offerings and entering new markets. This strategic move is set to enhance AVF Group’s market presence both domestically and internationally.
Funding Boost for AVF Group
AVF Group has received a substantial £1.8 million financial package from Praetura Commercial Finance to support its growth and expansion. This funding aims to provide the group with the necessary headroom to increase its product offering and enter new markets in mainland Europe and beyond.
Innovative Solutions and Market Penetration
Founded in 1977, the Shropshire-based AVF Group is renowned for its innovative AV and electronic accessory solutions. The group specialises in TV wall mounts and TV stands, catering to both domestic and international markets.
The company has successfully navigated various market conditions and continues to thrive through strategic initiatives and product development.
Strategic Partnerships and Financial Support
The recent Management Buyout (MBO) in February 2020 marked a significant milestone for AVF Group. Since then, the company has refinanced with Praetura Commercial Finance, who provided a tailored financial solution.
This solution includes confidential invoice discounting combined with an RLS Commercial Loan, facilitated through collaboration with Kingsway Finance.
This collaborative financing approach ensures that AVF Group has the flexibility and resources needed for its ambitious growth plans.
Management Insights
Simon West, Managing Director of AVF Group, expressed his gratitude towards Praetura for their efforts. He stated, “Praetura put in so much effort to get us over the line and I really appreciate them going the extra mile.”
West emphasised that the refinancing would bolster their success with new product development and global customer outreach.
Backing from Praetura Commercial Finance
Tom O’Dell, Sales Director at Praetura Commercial Finance, also shared his views on the deal. He said, “AVF Group is a leading specialist in a niche field with exciting ambitions.”
“We were delighted to create a facility much better suited to their needs as well as ensure they have the headroom needed to fulfil their expansion plans,” O’Dell added.
This partnership illustrates Praetura’s commitment to providing bespoke finance solutions that align with their clients’ objectives.
Enabling Future Growth
Paul Varley, Managing Director of Navigate Commercial Finance, who introduced AVF to Praetura, also expressed his confidence in AVF’s future. He remarked, “With the right funding structure, I’m confident AVF will flourish and enjoy this next chapter in their 40+ year history.”
Varley highlighted the pragmatic and flexible approach of Praetura, noting that quick decision-making is a significant advantage for entrepreneurial businesses.
Legal advisors were Shoosmiths for Praetura, led by Natalie Barnes, and Freeths for AVF, led by James Dyson.
Conclusion
The strategic funding secured by AVF Group marks a pivotal step towards its expansion and innovation goals. With the backing of Praetura Commercial Finance, AVF is well-positioned to enhance its product offerings and penetrate new markets globally.
The strategic funding secured by AVF Group marks a pivotal step towards its expansion and innovation goals. With the backing of Praetura Commercial Finance, AVF is well-positioned to enhance its product offerings and penetrate new markets globally.