Management buy-in at chocolate company after sweet £300,000 deal

A CONFECTIONERY company which makes chocolate for big names including Thorntons has undergone a management buy-in after a £300,000 funding deal.

East Yorkshire based One Stop Business Finance has completed a working capital finance deal with Three Crowns Confectionery.

The transaction facilitated the management buy-in of Hull-based Three Crowns on behalf of its managing director Mike Flower.

The business will use the loan to pay off the existing overdraft and to provide gap funding for business expansion.

Andrew Mackenzie, One Stop Business Finance’s managing director said: “This is yet another transaction that fits the One Stop Business Finance mould; a high quality management team requiring a flexible lending solution and able to secure it with great quality assets. We are delighted to be working with Mike and his team at Three Crowns Confectionary and to be part of what will be an exciting period of growth for the business.”

Mike Flower, managing director of Three Crowns Confectionery, said: “One Stop Business Finance has provided the funding to enable my business to grow to the next level.  The work was completed at a speed and with the flexibility that isn’t available via traditional high street lending.”

The legal work was provided by Ben Slack and Russell Stevens of Clarion Solicitors in Leeds.