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Funding Solutions / Case Studies

IGF – Funding That Fits

HPI Racing Ltd & Ripmax Ltd
HPI Racing Ltd & Ripmax Ltd

HPI Racing Ltd

£1.5m Invoice Discounting Facility

£250,000 Stock Facility

 

Ripmax Ltd

£1.5m Invoice Discounting Facility

£500,000 Stock Facility

Ambitions

Founded in Southern California in 1986, HPI Racing Ltd (HPI) has grown to become one of the leading designers and manufacturers of radio controlled cars. The company has a wide product range, encompassing on-road cars, monster trucks and large scale off-road vehicles.

Ripmax Ltd (Ripmax) started in 1949 as a toy and model shop in Camden, London. From those beginnings Ripmax has grown to be a global distributor of radio controlled models, such as drones, cars and boats, as well as collectibles and figurines from franchises such as Star Wars and X-Men.

The opportunity arose to de-merge the companies from their Group structures. This required the support of a lender was required that could deliver the quantum of funding required, react to the changing demands of the deal process and fuel the companies’ future ambitions.

Solutions

IGF was able to create the ideal funding structure for each company. The facilities enable the companies to handle the complexities of international trading, such as paying for imported goods and subsequently offering retailers credit terms. Additionally, the HPI facility is supporting the creation of new manufacturing facilities for the next chapter in the company’s success.

Reflections

 Jason Metcalf, Managing Director, Park Capital Limited, said:

“Choosing IGF was a choice about people. The team took the time to get to know the businesses and our plans for them. As a result, they produced a structure that works very well for us”

Jeff Greenfield, ABL Director, IGF Group, said:

“This was not a straight forward requirement and it demonstrates well how IGF works harder to deliver both the quantum and structure that businesses need.  For us it is never a tickbox approach. It’s about funding that fits.”

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