ThinCats, the leading fintech lender to mid-sized SMEs, has provided new debt facilities to accelerate building engineering consultancy, REAMS, ambitious growth plans. Lexington Corporate Finance acted as the lead advisor to REAMS on the fundraise.
Based in South Wales, REAMS is a building engineering consultancy providing technical asset management solutions across the built environment to a number of blue-chip companies across the UK and Europe. The new funding will allow the company to accelerate its growth plans in its core business, whilst also assisting in the further development and commercial rollout of its own in-house asset lifecycle software, ELIAS.
Founded in 2007 by its CEO, Alistair Clements, REAMS is now the leading business operating in this sector in the UK. The company works with its customers to collate, process, interpret and aggregate building construction and performance data in order to provide cost effective building management and maintenance strategies across estates.
The ThinCats team, led by Alison Whistance and David Jamieson, worked closely with senior management at REAMS, and senior advisors at Lexington, Gary Partridge and Thomas Edwards, to complete the transaction.
Kevin Dewhurst said, “The willingness of ThinCats to develop a flexible solution aligned to our strategy was evident from the first introduction meeting. This, along with ease of access to funds was differentiating factors in a competitive process. The funds will contribute to the development of our ELIAS software which will facilitate growth and expansion of our core services in a Facilities market that is increasingly using technology and data to drive Asset Management strategies.”
Thomas Edwards, Lexington’s Director, said, “We are delighted to have advised REAMS on this transaction. The Company has an excellent reputation in its sector and has seen significant growth during the past 12 months and is a great example of an innovate Welsh business looking to expand. The funding from ThinCats will allow the business to continue to grow and differentiate itself from its competitors.”
Alison Whistance, Director of Business Development for South West and Wales, ThinCats, said, “I am delighted to support REAMS with their ambitious growth plans and the development of their market-leading ELIAS software which will further enhance the customer experience and service offering. REAMS are led by an experienced management team who are well-respected in the industry, we are proud to be their chosen funding partner and look forward to supporting their further growth.”