Find out how
With offices in two states, Warren & Cage* is a medium-sized legal firm with twenty partners. Their overall growth strategy is based on the principle of expansion by acquisition. They recently signed an agreement allowing nine new partners to join the firm.
In support of this growth, Bank of Melbourne was able to provide $13m in working capital and bank guarantee facilities secured against debtors and Warren & Cage’s work in progress.
We also provided $1m in leasing facilities** and put in place an arrangement that allowed the new partners to borrow in order to fund their equity contribution.
Taking advantage of Bank of Melbourne’s full product range, Warren & Cage also has its trust accounts, leasing facilities and corporate credit card banking with us. Consolidating all their company finances with us has resulted in a very competitive pricing structure for them.
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* The practice depicted in this scenario is fictional, however is representative of a number of Bank of Melbourne customers.