# ThinCats delivers £1m ‘agile finance facility’ to fund MBO and substantial contract win for Firtitudo Ltd
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-04-27
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: ThinCats Provides £1m Funding Facility to Firtitudo Ltd for
Meta Description: Read how ThinCats helped Firtitudo Ltd acquire majority stake in dbfb and secure additional growth capital for new opportunities. Learn more!
URL: https://financedigest.com/thincats-delivers-1m-agile-finance-facility-to-fund-mbo-and-substantial-contract-win-for-firtitudo-ltdhtml

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Firtitudo Ltd has secured a £1m funding facility from alternative finance provider, ThinCats.

The transaction enabled the managing director of Firtitudo Ltd and database for business limited (dbfb) to acquire the remaining 45 per cent of secure communications specialist dbfb and the founder to exit. Mid-way through the transaction process, the business was faced with an immediate requirement for growth capital to fund a substantial new order. ThinCats stepped up to deliver, structuring a facility to include bullet repayments and fixing the repayment date to suit the business’s monthly [cash flows](https://www.financedigest.com/covestro-sees-lower-2023-profit-cash-flow-as-macro-challenges-prevail.html "Covestro sees lower 2023 profit, cash flow as macro challenges prevail").

The acquired company, database for business limited, provides organisations with secure connectivity and communications, incorporating landlines, [cloud services](https://www.financedigest.com/tackling-the-cloud-skills-gap-in-financial-services.html "Tackling the cloud skills gap in financial services") and mobile. The [growing business](https://www.financedigest.com/title-homeopathic-veterinary-medicines-market-growing-at-a-cagr-of-5-business-and-future-opportunity-2031.html "Title: Homeopathic Veterinary Medicines Market Growing at a CAGR of ~5% | Business and Future Opportunity – 2031") has offices in Northampton and Milton Keynes and a very strong regional presence in the Midlands.

The company has earned an enviable reputation for being close to the [markets it serves and managing](https://www.financedigest.com/tinnitus-management-market-to-top-us-3-2-bn-driven-by-growing-burden-of-hearing-disorders-fmi.html "Tinnitus Management Market to Top US$ 3.2 Bn Driven by Growing Burden of Hearing Disorders: FMI") director, Simon Pickering, was seeking the same qualities from his funding provider:

“What I really like about ThinCats is that they don’t hide away in an ivory tower. They are not faceless financiers; neither do they [hide](https://www.financedigest.com/hiding-in-plain-sight-finance-as-critical-national-infrastructure.html "Hiding in plain sight – Finance as Critical National Infrastructure") behind financial ratios and metrics. They visited us to gain a good understanding of our [business needs](https://www.financedigest.com/what-you-need-to-know-about-tax-savings-for-businesses-in-las-vegas-nv.html "What You Need to Know About Tax Savings for Businesses in Las Vegas NV") and pressures. Having the ability to meet the team that will be making the decisions on your application is invaluable and very refreshing – you certainly wouldn’t get that elsewhere”, Simon Pickering continued.

“ThinCats demonstrated extreme flexibility throughout the transaction. Half way through the management buy-out, a superb opportunity arose for us to take on a very [large new contract](https://www.financedigest.com/botswana-awards-norways-scatec-first-large-scale-solar-plant-contract.html "Botswana awards Norway’s Scatec first large-scale solar plant contract"). As well as funding the share purchase, ThinCats [ensured that we had increased transitional](https://www.financedigest.com/how-can-we-ensure-that-africas-energy-transition-aligns-with-its-development-ambitions.html "How can we ensure that Africa’s energy transition aligns with its development ambitions?") funding for growth, enabling us to take on the order swiftly and smoothly. There was total transparency on both sides and that sense of openness and [trust made this an enjoyable deal to work](https://www.financedigest.com/how-to-hybrid-trusting-employees-to-work-from-home.html "How to hybrid: Trusting employees to work from home ") on together.

“Our strategy is based on the old-fashioned values of service and relationships, as [well as having an excellent understanding of the requirements of our local market](https://www.financedigest.com/corporate-wellness-market-insights-by-leading-companies-and-emerging-growth-till-2026.html "Corporate Wellness Market Insights by Leading Companies and Emerging Growth Till 2026"). Our experience of ThinCats shows them to be an agile, [modern business](https://www.financedigest.com/the-modern-cfo-at-the-forefront-of-business-transformation.html "The Modern CFO: At the forefront of business transformation") with traditional values, exactly what we were looking for from our lending partner.”

Matthew Lawrence, Loan Origination Manager, ThinCats said: “Simon and his team have a very clear roadmap for the business and we are delighted to be playing our part in supporting them to achieve their ambitions in creating a world-class [technology](https://www.financedigest.com/extracts-and-distillates-market-overview-high-demand-recent-trends-future-growth-business-scenario-technology-2022-2029.html "Extracts and Distillates Market Overview, High Demand, Recent Trends, Future Growth, Business Scenario & Technology 2022-2029") platform for business growth.”

“In this fast-moving, digitally-driven environment, [businesses seeking to scale need lenders that possess the experience and short lines of communication](https://www.financedigest.com/marketing-communications-is-a-business-critical-pillar-now-and-in-a-post-pandemic-future.html "Marketing Communications is a business-critical pillar now – and in a post pandemic future") to be able to pivot quickly. Our role is to create certainty of [deal execution](https://www.financedigest.com/musks-twitter-deal-could-test-tesla-executive-bench.html "Musk’s Twitter deal could test Tesla executive bench"), even when events are changing dynamically around us.”

[www.thincats.com](http://www.thincats.com)


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