The Customer:

An independent ROV services company specialising in drill support, construction, IRM, survey and pipe/cable lay support and asset decommissioning.

The Challenge:

Strong year on year growth meant increased demand on the company’s cash resources with lending institutions requiring large deposits against new asset acquisitions.

Going beyond finance:

The Somerset team was able to work with the company in providing facilities that not only provided 100% long term financing, but also catered for the short term stage payments required by the equipment vendor during the 6 month build period. The facility allowed the company to stay on its growth path, reducing up-front cash burdens and leaving payments until the assets were ready to be operationally deployed and income generating.

100% financing
ROV services company
Short term progress payments arranged for vendor
Reduced up-front cash burdens
Aligned payments to revenues

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