Factor 21 provide finance to help Sky Gardens grow
July 21, 2017
Factor 21 Case Study - Sky Garden Ltd
Sky Garden can lay claim to being one of the original green roof pioneers with over 20-years of experience in supplying and installing green roof systems, designed to imitate natures’ blueprint. From planning to maintaining finished projects they expertly tranform roof spaces into attractive landscapes with social, economic and environmental benefits for both small domestic roofs and large commercial projects.
Having formed originally as an environmental stabilization company, the company made a decisive move to focus on the green roof sector which was experiencing an increasing level of demand. It was a positive move with the business enjoying significant growth and earning themselves the accolade of installing the largest wildflower living roof in Europe.
Based in Worcestershire, with a strategically important office in London, the business was thriving with a healthy order book. However, the nature of their business meant juggling cashflow as they balanced the need to invest upfront to grow the sedum and wildflower blankets which form the roof system and pay contractors before the job completes and they invoice their client. This funding gap caused a strain on working capital and growth plans.
With a contractual element in the business, their incumbent funder wasn’t comfortable with providing the level of funding that the business needed to support itself and enable it to grow. Factor 21 were impressed by the business but understood the importance of enabling them to maximise cashflow.
As a result, they provided a facility incorporating the whole ledger including the contractual debt as well as committing to take a long term commercial view. This gave Sky Garden the funding peace of mind to sow the seeds for future project growth and development.