£1million Lombard asset finance equips Deep Sea Leisure Bristol aquarium
- £1m Lombard asset funding helps enable Deep Sea Leisure aquarium to grow UK operations
- Funding frees up Deep Sea Leisure’s working capital, providing stability for site regeneration
- Lombard funding helps regenerate Bristol harbour side and enhances local attractions Security may be required and product fees
Deep Sea Leisure is one of the UK's leading specialist aquarium operators with a commitment to providing education about the marine environment. Part of the Spanish-based Aspro Group which focuses on water-based leisure activities, Deep Sea Leisure has grown its UK operations to five centres with the opening of its Bristol site in March 2010.
As a seasonal business, Deep Sea Leisure needed to obtain funding to acquire and equip the new Bristol site in order to maintain cashflow for its existing operations throughout the year. Undertaking a financial review with its banking provider NatWest, Deep Sea Leisure’s Managing Director Ian Cunningham was introduced to Lombard for the provision of asset finance to fund the aquariums and marine life systems at the Bristol site.
Lombard's Relationship Manager James Boggust immediately set to work with familiarising himself with Deep Sea Leisure's business and understanding its specific operational and financial needs. Boggust undertook numerous visits to the Bristol site and worked closely with key Deep Sea Leisure management in order to put together a bespoke deal that suited the customer’s cashflow and met the security criteria for the facility.
Commenting on the deal, Deep Sea Leisure’s Ian Cunningham said: "Lombard's asset finance has given us the freedom to take on a significant regeneration and expansion project in Bristol without compromising the stability of our existing operations. We're very excited about the opportunities that our new site in Bristol will create for the local area."
Lombard's James Boggust concludes, "It's important to create a finance deal that is a boost to the customer's business and not a burden, so by immersing myself in Deep Sea Leisure and developing a good understanding of its operations, I was confident we could structure a suitably tailored solution." Lombard provided £1m asset finance which funded the tanks and essential life support systems for the 40 aquatic habitats now on display to the general public.
For more information about how Lombard could help your business grow, please call 0800 028 7164. Type Talk 18001 0800 028 7164.
Security may be required and product fees may apply.
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