Commenting on the new funding package, SME Capital Regional Director, James Lowe, said, "StatusCake provides a business-critical product to a fantastic range of customers from small enterprises, through to globally listed companies, governments, and financial institutions. We are delighted to have supported James with a finance package that enabled the buyout of his founding business partner, and we look forward to building a successful partnership as we seek to support the business with their strategic objectives. SME Capital’s funding will enable the team to drive the business forward into the next stage of its development.“
Statuscake CEO, James Barnes, said, “This is an exciting development for the business as we look towards our next phase of growth. Working with SME Capital has been a real pleasure, in particular James Lowe who from start-to-finish has been a joy to work alongside. His support of our finance application, his tireless enthusiasm and commercial pragmatism has been indispensable. Thanks must also go to Mark Nicholls who helped arrange the funding, Lucy Strauss at Lee & Thompson, and Ian Swycher. With the deal completed I'm looking forward to working closely with the team at SME Capital as we look towards the next phase in StatusCake's life".
Mark Nicholls of MLN Co who helped arrange the funding said, “It was refreshing and a delight to work with James Lowe at SME Capital and find a workable solution to this transaction. Their hands-on, pragmatic and diligent approach ensured we concluded in a timely manner, at the number we needed within the parameters we required. It has made them my first port of call going forward for similar transactions. Can't speak highly enough of the whole experience.“
SME Capital were supported by Katrina Groark of Gateley Legal, who provided legal advice.
If you would like to discuss MBO financing in more detail or our wider funding capabilities do get in touch.
About SME Capital
SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional methods. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions.
