Richard’s in-depth analysis of our complex business model, with practical solutions, enabled a greater understanding by our banking team, for future growth opportunities.
Testimonials
Shane Newman | Managing Director | NH Packing & Farming Co Ltd
With the support of the business, Richard compiled a comprehensive proposal and delivered an outcome that was shareholder value accretive and ticked all our boxes. One healthy bi-product from Richard’s work was the comprehensive peer review of our businesses value drivers and financials.
Richard appreciated the sensitivity of what he was working on and operated with the utmost of discreteness. Most liberating for me was that I didn’t have too much to do with this – I was able to do what I do best and Richard engaged me when it was appropriate. He is someone that I continue to keep in contact with, will use again, and have no hesitation in recommending to other businesses.
Hamish White | CEO | NOW
Richard’s professionalism, experience and manner made him an excellent partner to lead a less-than-conventional funding request for our business. He quickly grasped our value drivers and used these to formulate well-thought out financial covenants that were agreeable to all parties.
Richard managed the project in a collaborative way that meant we were on the same page in all external dealings with financiers yet gave me the time for continued focus on all other aspects of our business.
Josh Boston | Head of Finance | NOW
During the past 6 months we engaged Richard Ede to manage a bank review process for First Light Foods.
The review was as a result of the forecast growth of our business, requiring a significant increase in our funding requirements.
As manager of the process, Richard was able to quickly get up to speed with the complexities of our business and prepared a very professional and comprehensive funding proposal that presented our business in the best possible light to the banking sector.
Having Richard manage the entire process enabled our senior management team to continue to focus on growing our business whilst also achieving the desired funding outcome.
Richard is very professional / easy to work with and I have no hesitation in recommending him to manage a company’s debt financing needs.
Attached is an outline of the process Richard undertook for the company.
Background
- First Light Foods operates a unique model in the NZ meat sector in that it is a full gate to plate/ end to end model from genetics to the retail consumer, with a differentiated product stream.
- From 2018 onwards the First Light turnover is set to significantly increase and First Light required a large increase in their banking facilities to fund this growth.
- The First Light Board instigated a review of its banking facilities and engaged Richard Ede to manage this process and achieve certain outcomes.
What Richard Ede did:
- Richard undertook a thorough discovery process to obtain the information required to complete a comprehensive banking proposal.
- Richard facilitated and led the presentation of the funding proposal to the Banks.
- Communication with the banks including provision of various information requests and clarification was handled by Richard, along with the negotiating/variation of covenants and terms and conditions.
- A comparison of proposals was presented to the Board from which a successful banking outcome was achieved.
Benefits of engaging Richard:
- The funding proposal was presented in a format known to be preferred by the banking sector making it easy for the Banks to assess the proposal and the business was presented in the best possible light.
- Richard was able to translate a complex business model, for ease of understanding by the banks.
- Very positive feedback from the banking sector was provided in terms of the quality of the submission and the provision of due diligence information (saving the banks time and money).
- First Light obtained a comprehensive overview of their business which can be used as an ongoing reference and induction tool for the business.
- Being a banking and finance professional, Richard was able to provide guidance on how best to deal with the banks in terms of their requirements and how best to present the opportunity.
- Follow up questions/ clarification and the provision of further information was handled by Richard and this approach was positively received by the banks. The First Light leadership team was able to focus on driving the business forward and only involved when required.
Gerard Hickey | Managing Director | Firstlight Foods Limited
Richard is an expert in converting your complex business model into a simple banking proposal. He understands the needs of the financiers and can help you negotiate the best funding outcomes for your business. Richard is innovative, professional and has a proven record of success.
Phil Ryan | Finance Director | Firstlight Foods Limited
We engaged Richard to develop an alternative funding structure for our employee shareholder buy-in scheme. This enabled our top performing agents to share in the success of our business and provide stability for the company.
By gaining a detailed understanding of our commercial model, Richard identified a bankable solution that worked for all parties. Richard was discrete in all our dealings, has a sound understanding of the information required by our Bank and worked collaboratively with them to achieve this result.
We would definitely use Richard again.
Simon Tremain | Managing Partner | Tremain Group
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