SIA Group has recently completed the accounts receivable due diligence and inventory appraisal for global consumer products innovator JML Group. The project, delivered on time and within budget, has enabled JML to secure its £15 million refinancing, moving key facilities from GE to Shawbrook Bank. The move was a result of GE’s decision to exit the UK market and at the same time enables JML to support future growth and development.

“SIA Group completed a complex project to a tight deadline at a very busy time for the business.”

With an annual turnover of nearly £100 million and products available in more than 70 countries, JML’s model of promoting innovative products and driving revenue for retailers across the globe is a huge success story. Its unique business concept combines focused multichannel sales with integrated marketing, media, ecommerce and distribution, and has transformed what was a small family run enterprise into an international household brand.

Paul Craig, Managing Director, SIA Group, said:

“Certainty of delivery was absolutely crucial for JML, the transaction coming as it did at the busy pre-Christmas period. Not only were we able to complete the due diligence on time and at short notice, we were also instrumental in successfully introducing a new CFO to the business; just part of the way SIA goes beyond the brief to support clients and provide value add.

Ken Daly, Chief Executive Officer, JML Group, said:

“Our existing ABL financier was exiting the market. We needed to act quickly and efficiently to secure a new asset based lending facility that fitted the current and future needs of the business. SIA came highly recommended, not only for the quality of their work, but also for their unique knowledge of the ABL market and the respect lenders place upon them. This gave us the confidence that their work would ensure lender support and help us deliver the refinancing on time.”

Ken continued: “SIA Group completed a complex project to a tight deadline at a very busy time for the business. They controlled the process and timetable perfectly and helped facilitate completion with Shawbrook, our chosen lender. I would have no hesitation in recommending SIA Group services. They helped turn a challenge into business advantage.”

Andrew Rutherford, Regional Managing Director London, Thames Valley & South at Shawbrook Bank, commented:

“Two key factors in any asset appraisal are trust and delivery. Trust, in that the lenders need to be able to absolutely trust what is being reported. Delivery, in that the report needs to be delivered on time without exception. SIA meets the demands of today’s dynamic event-driven finance market consistently on both counts and this transaction was no exception.”