Premier Asset Based Financier Venture Structured Finance today announces the appointment of Peadar O’Reilly as a Regional Director for Manchester. It is one of two new appointments to the Structured sales force nationally as the division increases its efforts to help UK businesses survive the economic downturn. Peadar will work alongside existing Regional Director Neil Topping in the management team, bringing with him 12 years’ financial services industry experience, the last 7 of which  have been in  Asset Based Lending (ABL).

Peadar’s knowledge will bolster Venture’s already significant regional presence in the North West, sharing responsibility for delivering fully-fledged ABL packages including provisions for Cashflow Term Loans to support businesses in the Manchester area.
Prior to joining Venture, Peadar was a Director in the mid-corporate team at the Bank of Ireland (BOI), specialising in ABL and structured debt. He also helped set up the BOI’s ABL division in the UK – Enterprise Finance Europe – working on a number of successful deals, including the division’s first Public to Private ABL transaction.

Peadar O’Reilly, Regional Director, Venture Structured Finance comments: “It is great to have joined Venture Structured Finance’s successful Manchester office. I’m looking forward to working with the local advisory community to help the region’s businesses negotiate the downturn. Many firms are looking for viable refinancing and even turnaround funding options, and ABL can be invaluable in providing liquidity for restructuring.

“ABL’s revolving nature when delivered against Receivables and Inventory, means funding is guaranteed to meet the long-term needs of a business’s sales performance, delivering levels of flexibility traditional senior debt facilities   cannot often match. In difficult times, a steady stream of working capital can make the difference between whether a company can thrive or not ”

Steve Websdale, Venture Structured Finance Managing Director, comments: “Despite the economic downturn, Venture is very much open for business. We are glad to be in a position to recruit top industry talent to bolster our commitment to businesses in Manchester, during these challenging times. It is going to be an unpredictable year for the Manchester business community, but with Peadar’s appointment Venture Structured Finance’s team has unrivalled experience to help Manchester businesses come through the other side of the economic cloud.

“This year marks Venture’s 20th in operation. We are one of the pioneers of ABL in the UK, structuring our first deal in 1990, and have seen businesses through both good and challenging times. As part of the ABN AMRO group and ultimately owned by the Dutch Government, we are a tremendously solid partner in turbulent times.”