Centric funds Momentum Instore

Centric has provided Momentum Instore with a £4.75m facility of invoice discounting and a flexible cash flow term loan. The deal has assisted the current management team – which has been running Momentum Instore for the past 11 years – with a management buyout of the business.

Stuart Bates, sales director North at Centric Commercial Finance, commented: “The Centric team worked collaboratively and creatively to deliver a bespoke financing solution that has facilitated Momentum Instore’s management buyout”.

Until recently, Momentum Instore Ltd, which provides retail marketing services agency offering installation, merchandising and field marketing services, was part of McCann Worldgroup’s, Momentum Worldwide business and, ultimately, The Interpublic Group Of Companies Inc.(IPG).

Rob Gleave, managing director at Momentum Instore, said: “Centric was able to come up with solutions that the high street banks just couldn’t offer. We found the Centric team extremely knowledgeable, quick to grasp what our business is about and willing to listen to us. More than that, they understood our business and why we wanted to retain 100 percent ownership. Thanks to Centric, we have been able to realise those ambitions.”