# ThinCats funds Evans Entwistle’s acquisition of SBMC Business Management Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-06-02 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Evans Entwistle secures £450,000 funding for SBMC acquisition Meta Description: Discover how Evans Entwistle, a Penarth-based firm, secured funding from ThinCats to acquire Bristol's SBMC Business Management. Expert accountants URL: https://financedigest.com/thincats-funds-evans-entwistles-acquisition-of-sbmc-business-managementhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd020618-1-4-1736842669897-compressed.jpg) Penarth-headquartered accountancy and business advisory firm, Evans Entwistle has secured a £450,000 funding facility from ThinCats to support the acquisition of Bristol-based SBMC Business Management Limited. The client was introduced to ThinCats by Lime Corporate Finance. Evans Entwistle is a practice of CIMA Chartered Management Accountants and business advisors delivering accounting, tax, payroll, corporate finance and consulting services. Established in 2004, the team has broad experience across diverse industry sectors – including public, private and not-for-profit/charitable organisations – and across all [business sizes](https://www.financedigest.com/covid-19-is-impacting-the-high-speed-steel-market-size-business-revenue-forecast-leading-competitors-and-growth-trends-2031.html "COVID-19 Is Impacting The High Speed Steel Market | Size, Business Revenue Forecast, Leading Competitors And Growth Trends 2031"), from FTSE 100 companies to SMEs. ![Damian Evans](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/damian-evans-450x568-1736842669862-compressed.jpg) Damian Evans SBMC [Business Management Limited is also a firm of accountants and business support](https://www.financedigest.com/where-do-small-businesses-turn-when-government-support-dries-up.html "Where do small businesses turn when government support dries up?") providers, staffed by a qualified, experienced team that offers expert advice, combined with extensive local knowledge of businesses in the Bristol area and specialist sectoral expertise, spanning construction, property development and automotive industries. The existing principals will stay in the business for up to 12 months to [ensure a smooth transition](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?"). Damian Evans, Partner at Evans Entwistle said: “We have enjoyed strong [organic growth](https://www.financedigest.com/organic-milk-powder-market-regional-industry-segmentation-analysis-by-production-consumption-revenue-and-growth-rate-by-2027.html "Organic Milk Powder Market Regional Industry Segmentation, Analysis by Production, Consumption, Revenue and Growth Rate by 2027") as a practice. However, expansion has been on our mind for a while and when we were presented with the opportunity to acquire SBMC Business Management, we could immediately [see the synergies in terms](https://www.financedigest.com/israel-sees-no-new-iran-nuclear-deal-before-u-s-november-mid-terms.html "Israel sees no new Iran nuclear deal before U.S. November mid-terms") of the combined client base, the dynamics of our services and value propositions. Not only does SBMC have a profile broadly similar to our own, it is also based in a location with a strong, vibrant and flourishing business community.” He continued: “We have found ThinCats to be a breath of fresh air. They looked to understand our plans and were [totally focused on how they could make the deal](https://www.financedigest.com/iraq-and-total-sign-27-billion-energy-projects-deal.html "Iraq and Total sign billion energy projects deal") work for us. The Deal Forum, which included the Head of Credit and their risk analysts, gave us the ideal platform to explain the acquisition opportunity clearly and discuss the transaction openly together. ThinCats demonstrated their [commitment to support the transaction right at the outset and worked extremely diligently to get the deal](https://www.financedigest.com/biden-uks-truss-commit-to-protect-northern-ireland-deal.html "Biden, UK’s Truss commit to protect Northern Ireland deal") across the line. We can definitely see the advantages of working with ThinCats as our long-term [funding partner](https://www.financedigest.com/nissan-pushes-partner-renault-to-sell-down-stake-may-raise-funds-source.html "Nissan pushes partner Renault to sell down stake, may raise funds -source"). We look forward to looking at future targeted acquisitions together and I would definitely recommend them to others.” Tom O’Brien, Director at Lime [Corporate Finance](https://www.financedigest.com/9-issues-in-corporate-finance-and-strategies-to-overcome-them.html "9 Issues in Corporate Finance and Strategies to Overcome Them") commented: “The 12-month capital repayment holiday structured by ThinCats made what was already a good acquisition, an irresistible proposition. The transaction was [structured intelligently to free up working capital headroom to cover any unforeseen costs](https://www.financedigest.com/modified-flour-market-overview-cost-structure-analysis-growth-opportunities-and-forecast-to-2032.html "Modified Flour Market Overview, Cost Structure Analysis, Growth Opportunities And Forecast To 2032") or hurdles. ThinCats’ [experience was the key](https://www.financedigest.com/key-considerations-for-building-an-inclusive-digital-banking-experience-fit-for-the-future.html "Key considerations for building an inclusive Digital Banking Experience fit for the Future") to getting the deal done. They understood the asset-base and the acquisition piece, as well as how to [manage the expectations](https://www.financedigest.com/food-waste-management-market-expected-to-expand-more-than-three-fold-through-2032.html "Food Waste Management Market Expected to Expand More than Three-Fold through 2032") of multiple stakeholders. With so many moving parts involved in acquisitions, ThinCats’ solutions-driven approach to deal-making is very refreshing.” John Sharpe, Business Originator, South West & South Wales at ThinCats added: “This is a great deal for everyone concerned and yet is one that, once again, the [traditional banks](https://www.financedigest.com/how-partnerships-between-fintech-start-ups-and-traditional-banks-herald-a-brave-new-world-of-opportunity.html "How partnerships between FinTech start-ups and traditional banks herald a brave new world of opportunity") have struggled with. Both businesses are strong and profitable, with good [combined historical and forecast](https://www.financedigest.com/traders-cut-ukraine-2022-combined-grain-and-oilseeds-crop-forecast.html "Traders cut Ukraine 2022 combined grain and oilseeds crop forecast") EBITDA generation and we are delighted to support this acquisition with a flexibly tailored deal structure. In many ways, this transaction represents what ThinCats does best, working as a cohesive unit with the client and their advisers to achieve their strategic objectives with certainty.” [www.thincats.com](http://www.thincats.com) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---