FARLEYS Solicitors Partners Ian Liddle and Debbie King have advised on the restructuring of Salford based asset and debt management specialists, Cerberus Group.
The Group’s companies comprise ‘Cerberus Asset and Debt Management’, ‘Andrew Wilson & Co.’, ‘Charles Taylor Auctioneers and Valuers’ and ‘NBS’.
Providing specialist civil enforcement services including the execution of High Court warrants and general commercial bailiff services, the Group has over 60 employees and a turnover of £3.5M. Other companies within the group provide services that compliment the requirements of the bailiff division and that are also tailored to the ever more sophisticated requirements of the Business Recovery Industry.
Debbie King, advising on the restructuring and corporate aspects of the deal, said,
“By reorganising the Group businesses, Cerberus have been able to increase their liquidity in order to provide a firm foundation for their projected growth. Confidence in the Group’s future performance has been highlighted by the Royal Bank of Scotland who have backed the deal all the way.”
The restructure has seen Andrew Wilson taking on the role of Group Chairman, allowing him to focus more closely on strategic development as it looks to increase its turnover.
Ian Liddle, Partner in commercial property at Farleys, commented,
“Cerberus Group are now in a stronger position financially, due to the efforts of all involved, and can now work toward achieving their target of increasing their turnover of £3.5M by 30% during the next 12 months.”
Farleys Solicitors provide the full range of commercial business services to clients across the Northwest. With offices in Accrington, Blackburn, Burnley, Manchester and Shadsworth, to speak to an expert or arrange a meeting, call Farleys Commercial now on 0845 050 1958, or you can e-mail us.