Case Study.
Total Protection: Funding for Growth.

Every growing business reaches a point where the right funding can make all the difference.

Total Protection Group is one of the UK’s leading multi-disciplinary contractors, with more than 30 years of experience across painting, fire protection, surfacing and landscaping.

With ambitious plans for continued growth, the Group needed a funding solution that would provide the flexibility and capacity to support its next stage of expansion.

The opportunity

As long-term advisers to Total Protection, Barrons understood the Group’s ambitions and the importance of finding a funding solution that could support its future plans.

Gary Raven introduced Chairman Mike Morley to Jason Falkingham at Commercial Sense, a specialist commercial finance broker focused on supporting owner-managed businesses and SMEs.

Before making the introduction, consideration was also given to Total Protection’s existing financing relationships, ensuring its incumbent financiers had the opportunity to support the Group’s growth plans.

Finding the right funding solution

After taking the time to understand Total Protection and its objectives, Jason identified asset-backed lending as an option that could maximise the funding potential available across the Group’s asset base.

Following a comprehensive review of the ABL market, a new lending partner was identified and a £6.6m asset-backed lending facility secured.

Barrons supported Total Protection throughout the financial and legal due diligence process, working alongside the business and Commercial Sense to help the transaction progress smoothly from offer through to completion.

The resulting facility has provided Total Protection with greater financial flexibility to support its continued expansion, including taking on new contracts, growing its workforce and investing in the future of the Group.

What Total Protection had to say

Mike Morley, Chairman at Total Protection, said:

“Having been introduced to Jason Falkingham of Commercial Sense Ltd by my trusted long-term advisers, Barrons Chartered Accountants, I had no hesitation in appointing Jason to act for the business and identify a new lending partner to support Total Protection Group’s next level of planned growth.

“Jason took time to really understand the business and suggested we consider an Asset Backed Lending (ABL) facility to maximise funding potential across the Group’s strong asset base. His detailing of the benefits of an ABL facility, and awareness of the cash flow opportunity that such a facility unlocked, was amazing.

“Once I instructed Jason to proceed with his recommended financing strategy, he then undertook a comprehensive ABL market review to identify and secure the best lending partner for the Group. Staying involved throughout the process, Jason helped to negotiate the best terms and ensure all parties acted in a timely manner. I am impressed that Jason ensured our incumbent financiers were provided with all collateral to enable them to take part in the consideration of the Group’s growth plans, and I know that Gary Raven, of Barrons, was keen to make sure that every opportunity was offered to our loyal financiers before he made the introduction.

“The result of the review was that significant new funding opportunities were released through the development of an ABL facility that underpins my vision, which will see the Total Protection Group carry on our pathway to continued market leading growth. The Group now has a pathway to demonstrate our ability to be involved in new contracts and maximise the growth in all of our subsidiary companies.

“I highly recommend Jason and Commercial Sense to any business looking for growth funding. Nor can I thank Gary Raven and his team at Barrons enough for their support of the financial and legal due diligence process that they delivered, which made the transition from offer to completion smooth for all parties.”

Colin Burton, Group Finance Director at Total Protection, added:

“As Group FD, it was important that any change in banking partner was seamless and helped further improve our internal finance efficiencies.

“Jason Falkingham helped find our best banking partner in the current turbulent market, and in so doing not only provided the funding we sought but also supported my Finance Team to ensure any changes were made as easily as possible.

“From a Group FD perspective, I now have the ability to support Mike in his growth aspirations and to focus upon Total Protection Group’s continued growth safe in the knowledge that the revised facilities secured underpin our projections and business plan.

“Jason’s support and input throughout the process was most welcome, and I would not hesitate to recommend Jason & Commercial Sense to anyone looking for a smooth transition to a new banking partner.”

Supporting ambitious businesses

The transaction also marks an exciting milestone for Barrons as our first asset-backed lending deal and represents another step forward in the continued development of our funding offering.

By combining our long-standing understanding of Total Protection and its ambitions with Commercial Sense’s specialist funding expertise, we were able to support the Group through an important stage in its growth journey.

We’re delighted to have played our part and look forward to seeing what’s next for Mike, Colin and the Total Protection team.