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A Newcastle-headquartered insurance broker, which has traded for more than 40 years, has secured a new funding facility from Barclays as part of a refinance.
Todd & Cue offers business insurance to both SMEs and corporates and has experienced sustained growth since the current management team assumed control through an MBO in 2017.
The business secured the refinance through WilliamsAli Corporate Finance, which will soon be going to market as FRP Corporate Finance.
The WilliamsAli team, led by joint founder Abu Ali and manager Niall Choat, worked with Todd & Cue's management team to produce detailed financial forecasts and a funding proposal to support discussions with lenders.
Following extensive conversations, Barclays was identified and secured as the preferred partner.
This marks the first deal completed by WilliamsAli Corporate Finance since it was acquired by FRP in September.
As part of the acquisition, founders Abu Ali and Phil Williams join as partners, along with all five other members of the WilliamsAli team to establish a new Newcastle office.
Abu Ali said: "We have a strong long-standing relationship with Mark and the team at Todd & Cue, and we were delighted when they chose to use us to support this project. Todd & Cue is a regionally recognised brand, known for delivering client service that is second to none. We have witnessed the continued growth of the business and this refinance gives them a platform to deliver on their future plans."
Mark Armstrong, managing director at Todd & Cue, added: "This transaction will have a significant impact on the business going forwards, with the restructured finance allowing Todd & Cue to operate with greater flexibility and to capitalise on future growth opportunities. We have had a long-standing relationship with the WilliamsAli team, and it's been a pleasure to work again with Abu and Niall. Their expertise and pragmatism drove the process forwards, securing an excellent result."
