Sterling raises £750,000 for Derby firm
Sterling Capital Reserve, the Nottingham-based corporate and commercial finance firm, has brokered a deal that raised £750,000 to facilitate an international deal for a growing Derby business.
The deal has helped ValueLicensing buy £1m worth of used Microsoft licenses.
ValueLicensing specialises in the identification and resale of redundant Microsoft Volume Licences. This can be through insolvencies throughout Europe or solvent companies that are downsizing or moving to subscription licensing like Office 365.
The company says it was trying to source funding for this project and had been speaking to a number of different funders including its relationship manager at RBS before it was referred to Sterling Capital.
Jonathan Horley, founder of ValueLicensing, said: “We are extremely happy to get this deal over the line given the fluctuating value of the Euro against the Pound.
“Given the amount of capital we were looking for it was always going to be a tough ask to get funding through that route but it was taken seriously.
Horley has used the funds to purchase Microsoft licences from a large European insolvency which they’d been working on for a number of months.
He added: “We purchased the licences on the completion date of the loan. It was quite challenging to line up the loan and an international transaction of that size to complete on the same day but with Sterling Capital’s help it all went through surprisingly smoothly.
“Sterling are extremely professional and have a wide knowledge of the various funding options which enabled them to put this deal together. They helped us through all of the stages from forecasting to completing the deal so I couldn’t recommend them highly enough.
“If you’ve got a good idea and your bank can’t or won’t support your business then it’s definitely an option worth exploring.”
David Marshall of Sterling Capital added: “It’s was a real pleasure to help secure these funds for Jonathan and ValueLicensing. The timing had to be exactly right as we knew there is no room for error in this kind of transaction.
“We’d urge anyone in a similar position to ValueLicensing and who needs funds quickly and with the minimum of fuss to get in touch.”
The news comes as David Hubbard, DHL head of ISM and Interim IT director joins ValueLicensing.
Hubbard said: “After spending the last 25 years working in large global organisations at a senior level, I was delighted to be offered the position of deputy managing director of Value Licensing, where I can use this knowledge to help shape a comparatively smaller company, albeit one with massive growth plans.”
