THE COMPANY

Established in 2014 by Mark Harvey, Acacia Associates is a building surveying company working for a diverse group of private and commercial clients including homebuyers, insurers and housing developers. Its projects cover residential, commercial, industrial, education, leisure and insurance sectors.

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CHALLENGE

In April, Covid-19 brought the property market to a standstill which had an immediate impact on Acacia’s building surveyor operations and cashflow. As construction sites closed due to social distancing, Acacia was unable to achieve a contractual milestone. Subsequently, a milestone payment was delayed preventing essential cashflow into the business.‍

Getting a deep understanding of this building surveying business as well as the financial impact in a short space of time was essential for a speedy outcome. We engaged with Acacia’s owners and condensed a lot of management information into a concise lender presentation pack which was critical to a successful outcome.

We built a 24-month financial model to ensure the lender had all the essential information to make a funding decision. To allow Acacia’s owners to focus on running the business, we engaged directly with the primary lender and chased critical timelines to ensure an efficient workflow.

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OUTCOME

Through our support, the Royal Bank of Scotland approved an undisclosed loan allowing Acacia to continue with its contractual obligations, achieve key milestones and return its trading to a near normal level.

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