Refinancing

Background

With a heritage dating back to 1964, Explorer Group manufacture Elddis, Compass, Xplore and Buccaneer touring caravans and motorhomes in the UK for a global market. From 2013, the company has moved to an innovative and unique construction technique using their SoLiD structural bonding system which is combined with their class-leading craftsmanship and cutting edge design. The business recognised the need to invest heavily in upgrading its production facilities for the new SoLiD bonding system and had additional investment requirements around IT equipment too. In a volatile market and with long lead times on payments for units rolling off the production line, the business sensibly wanted to consider its options for investment.

Our Solution

Our first task was making sure that we understood a complex and layered business model and then to make sure that we presented that well to the market. Many of our projects are complex and we have a reputation with our funders for being extremely thorough in the proposals we send to them. So much so that we often secure funding where others have failed. We looked at the needs of the business in its entirety and structured a solution which encompassed all of them and did so over a course of years, not just individual projects. We were able to identify various assets of existing production plant and machinery, some over ten years old, that we could raise finance against and then release that cash back into the business.

"The strategic approach Bluestone took to our needs was extremely impressive – They were often steps ahead of our current needs and thus able to plot a course to accommodate requirements only just coming into view. Furthermore the service they provided was genuinely exceptional – They made every effort to understand us, support us and make sure we got the very best solution out there. At every stage I felt I was dealing with people and a business that truly cared and whom I could trust. They did not disappoint."

David Styles, Finance Director, Explorer Group

Award-winning

Awards are an independent recognition of what we do.
Winning these accolades makes us extremely proud.