Bristol market intelligence company secures £3 million refinance from ThinCats
A leading provider of market intelligence, data and events to the global plastics industry has secured a £3 million refinance and working capital facility by ThinCats.
Founded in Bristol in 1986 by a group of expert consultants, Applied Market Information (AMI) historically ran more than 60 events in Europe, North America and Asia each year, featuring more than 1,000 expert presentations and attracting more than 10,000 plastics industry professionals.
The Covid-19 pandemic presented significant challenges to the business, given the considerable impact on the events industry worldwide. Adapting to the new environment, AMI has moved many events online to support the information and networking requirements of its loyal communities.
Although many customers are keen to return to live events when possible, the feedback and attendance levels at the virtual events has been very positive. Regardless of the future of live events, the virtual conferences have real benefits in being able to attract a more global audience and higher numbers of influential buyers. AMI has also increased its focus on content development with the production of very specific market reports and databases.
Alcuin Capital Partners, UK SME private equity firm and majority shareholder of AMI, approached ThinCats for funding to support a refinance and working capital package for AMI, alongside longer-term plans to expand the existing provision.
Andy Symons, CEO at AMI, said: “While the pandemic has clearly been very disruptive and challenging, our team has done an excellent job in adapting to the changes. Our plans for the future remain exciting and ambitious. In addition to continuing to build and support our existing communities, we will be expanding into new areas, addressing unfulfilled needs with both market reports and events. While the dramatic shift to the virtual world has been forced on us, it has highlighted a number of very positive areas for growth and improved productivity. This funding is instrumental in allowing us to pursue these goals, and we appreciate the efforts that Alcuin and ThinCats have made to deliver the funding in a timely manner.”
Dave Sherrington, ThinCats’ Regional Head of Sales, added: “Despite the challenges that the events industry has faced over the past year, AMI has managed to make the most of its impressive bank of skills and expertise to deliver successful remote events for its clients – a great example of adapting to make the best of a difficult situation. Its plans for 2021 and beyond will take the company into new areas and we wish it the very best.”
Graham Morrison, Investment Director at Alcuin Capital Partners, added: "We are really pleased to have secured further financial support for AMI. We have been particularly impressed with ThinCats’ ability to understand the business quickly, and its efficiency and flexibility in delivery. We look forward to working with the team at AMI to build a stronger business in a new commercial environment."
