Engineering the right solution to recovery with eCapital’s support

Engineering the right solution to recovery with Advantedge’s support

Anglesey Mechanical Solutions Ltd are a well-established industrial and mechanical engineering business carrying out repairs, installation and maintenance services across North Wales and Northwest England. Established in 2013, it has built a reputation for quality and reliability with work carried out to the highest standard, courtesy of a number of key industry accreditations. 

​Current owner and director, Darren Morris has been at the helm of the business since the beginning and despite the region being awash with engineering companies, has managed to carve out a niche offering particularly with regard to a specialism in quarry related work and services. 

​As Darren explains “The challenges of building and establishing a business within the region have been fierce but by creating a customer base built on loyalty and trust have enabled us to move forward in a clear direction and having the right funder alongside us has been instrumental to being able to achieve this.” 

​Having used invoice finance previously, Darren had unfortunately experienced issues from their lender regarding flexibility and the timely releasing of funds, when jobs were completed. As a result of these frustrations, Darren had been introduced to eCapital (previously Advantedge) in the summer of 2019 via Neil Lukins of Allstar Funding Solutions Ltd. 

​The importance of having a strong financial partner was soon to be tested a few months later, as a significant works contract to build and install a steel fire escape for a nearby hotel was first delayed and then following the onset of the Covid-19 pandemic and the resulting economic shutdown, mothballed. Facing a bad debt that would have effectively meant the closure of their business, Anglesey Mechanicals’ relationship with eCapital, instead of becoming polarised, strengthened considerably and with support from eCapital Relationship Manager Keira Matley and the senior team, both parties worked tirelessly to ensure funding was made available and a cashflow discipline was maintained through the critical period that followed. 

​Darren explains “Without the intervention of eCapital and the support they showed us during the months following the hotel saga, with the impact that it was having on our business cashflow, we wouldn’t be here now. Their honesty of communication was vital as was their ability to seek a workable solution over a period of time which allowed us to meet our financial commitments and obligations to HMRC and key creditors when they fell due. We now appear to have come out the other side and our business is in a much better shape to start planning for the future” 

​Alethea Chester, Operations Director at eCapital said, “The last two years for many businesses have been extremely tough and challenging and it has been vital for us as a funder to continue to support our clients along the way with our strong relationship approach. Our team has worked incredibly close with Darren and his colleagues at Anglesey to ensure that the cashflow damage caused by the bad debt has been contained in such a way as to allow his business to suitably recover and to now move forward with confidence during 2022.”

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