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InterFinancial helps Moxon Timber successfully renegotiate debt
QUEENSLAND Leaders member InterFinanical has helped century-old Australian family timber business, Moxon Timbers, to successfully renegotiate debt facilities that were challenging the business.
InterFinancial led the company through a competitive process that achieved improved flexibility in facilities, pricing and an increase of debt facilities by over $7 million.
“Having InterFinancial along not only showed how serious and professional we were, we were able to talk to people with whom we had no relationship, got some competiton into the process and improved the day-to-day reporting requirements,” said Moxon Timbers managing director, Tony Moxon.
InterFinancial acted as an adviser to Moxon Timber to organise working capital finance to primarily fund stock and debtors.
They also utilised term debt to fund the distribution centre and head office at Stapylton in Queensland.
Then astute use of asset finance was utilised for specific plant and equipment. Moxon
Timber Moxon Timber is a privately owned company that was established in 1903 by the Moxon family.
The company’s Australian operations are based at Stapylton and additional offices are located at Melbourne and Sydney.
In the 1980s the company expanded overseas, establishing businesses in the United States and New Zealand.
Since this expansion, Moxon Timbers has continued to grow both domestically and overseas, opening businesses in France and Chile in 2006 and 2007 respectively.
The company currently employs moe than 120 people, operating globally, and supplying timber to customers including Bunnings, Mitre 10 and Bretts Hardware.
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