Chess Industries

Services Provided
Full Banking & Finance Tender

Project Overview
Chess Industries is a Sydney-headquartered unlisted public company. It was growing as a business and also planning a move from Padstow to Leppington, in Sydney’s western suburbs.

Industry: Industrial Engineering & Steel Fabrication

The Challenge
This required a restructure of their banking & finance facilities, in particular the release of cash securing bank guarantees, to help fund both their growth and fit-out and move into their new facility.

The Solution
Glengyle Finance approached two major banks and received a very strong offer from one. With various changes over recent months, including further business growth, Chess has once again engaged Glengyle Finance to ensure the next stage is appropriately funded.

Testimonial

“Serendipity brought us our introduction to Craig Phillips at Glengyle Finance, but I did not know how beneficial it would be to Chess Industries Ltd as a company, and ultimately me as a shareholder of Chess.

With so much passive cash being tied up, and growing monthly as we expand, Craig was able to negotiate a very positive outcome with CBA.

It was his “DNA”, his experience that was the telling difference. It would have been very difficult for Chess to continue expanding, and certainly we would not have contemplated a capital restructure, prior to Craig assisting us. I thank him.”

Steve Facer, Managing Director