2. Background - Structure
Parent Company - Bibby Line Group Ltd
Founded 1807 in Liverpool, England
Three Primary Divisions
Bibby Line Ltd, Marine
Bibby Distribution Ltd
Bibby Financial Services Ltd
Recently acquired
MHL Support, Colney Woodland, Costcutter, Tay Distribution Group
3. Bibby Line Ltd - Marine
Offshore
Floating and mobile production, operations and maintenance, subsea construction,
inspection, repair and maintenance (IRM)
Shipping
Chemical carriers
Coastels
Purpose-built floating accommodation
4. Bibby Distribution Ltd
Employ around 2,500 people at more than 70 locations in the UK
Operate with over a thousand road-based assets and several
million square feet of warehouse space
Supply chain management, Warehousing, Distribution
management and Transportation operation
5. Bibby Financial Services Ltd
Commenced in the United Kingdom
Now with businesses in United States, Canada, Australia, Ireland,
India, France, Poland, Czech Republic, Germany, Slovakia and
Hong Kong
Primarily factoring, products extend to purchase order (trade)
finance, asset based lending and leasing
6. Structure - North America
Parent - Bibby Financial Services (Holdings), Inc.
Operating Companies
Canada: Mississauga, ON - Bibby Financial Services (Canada) Inc.
Midwest and East: Chicago, IL - Bibby Financial Services (Midwest), Inc.
West: Los Angeles, CA - Bibby Financial Services (CA), Inc.
Transportation: Nashville, TN & Norcross, GA - Bibby Transportation Finance,
Inc. / Freightcheck
International Trade Finance: Atlanta, GA - Bibby International Trade Finance
Staffing Finance: Chicago, IL - Bibby Staffing Finance
Client Service and Sales Centers: Phoenix, Sacramento and West Palm Beach
7. Cultural Themes - The Bibby Way
Regional Autonomy
Ownership at the Lowest Level
Brand Awareness
Customer Focus
Global Business for Local Businesses
8. Regional Autonomy
Each Factoring Entity has:
CEO - Head of Business
EVP, Operations - Head of Operations
Underwriting Team
Client Service Team
New Business Team
Business Plan
Regional Style
9. Financial Strength
Worldwide borrowing capacity exceeds $1 Billion
Private held but operated in a manner of a public/traded
company with transparency, available reports
Bibby Financial Services Ltd Annual Report
Excellent financial performance year after year since inception
Within 3 years in the US, having three offices and increasing
client base each year
Within 10 years in the UK, gaining double digit market share,
and outstripping market growth in every year
11. Recourse Factoring
Pricing basis is flexible either Discount (x% for x days) or
Availability based (one time fee plus US Prime or LIBOR plus fee
on monies used)
Facilities can be up to $10 million in house, although more
comfortable with up to $5 million for new facilities
Recourse at 90 days
Canadian receivables treated as domestic for US based facilities
(and conversely US receivables are treated as domestic for
Canadian based facilities)
12. Purchase Order Finance
Only US factor to have dedicated, specialist PO Finance division handling import
and export trade under one roof.
Direct Funding, Letters of Credits, Standby Letters of Credit
Require a factoring facility (our exit methodology)
Not for raw materials
Usually do not use PO Finance for start up companies
Can be used on one off basis by clients, no ongoing commitments
13. Staffing Finance
Receivables Funding
Full Payroll Management
Full Payroll Reporting
(including Tax Reports)
Invoice Preparation
Discounted Insurance
14. Transportation Finance
Two dedicated business units with staff who only service trucking
clients
Fuel card with ability to directly fund and ATM access and check
writing ability
Structured flexible funding programs catering to the smallest owner
operator firm up to fleet sized businesses
Compliance services - permits, fuel tax reporting, discounted
insurance and fuel programs
15. Export Factoring
Member of IFG - formalized process for ‘two factor’ import / export
factoring
Ex-Im Bank approved lender
Have enhanced abilities to handle Export transactions where we
have a physical overseas presence
We normally look to credit insure export receivables, therefore is a
need for credit worthy debtors
Bibby International - 14 language skills
16. Sectors - Fundamentals
Businesses selling to business on credit terms
Receivable is for goods or services rendered fully at the time of billing
Sell and Forget is strongly preferred:
Warranty issues
Consignment sales
Performance contracts
Business terms of up to 60 days
Ability to verify receivables
Ability to secure primary security interest in the receivables and proceeds of industry
(willing to sub-ordinate to other lenders on other assets).
Typical advance rate is 85% of receivables although 90% more common in more
straightforward industries. Transportation and Staffing are more typically 90% advance
rates with Trucking going up to 95% advance rates.
17. Sectors – Fundamentals, Cont.
Transaction Size-Funds advanced to clients from start up to $10,000,000. Normally equates to
minimum monthly purchases of $15k up to $5m per month depending on business days
outstanding.
Application-Located on website, CD. We require a most recent accounts receivable aging
report, sample invoice, Certificate of incorporation or dba filing.
Proposal Time-Same day with all necessary evaluation documents.
Due Diligence-Varies. Typically to cover our costs. If there are multiple trading styles or
complicated ownership structures etc this may impact these costs.
Initial Funding Fees-5 to 7 days upon receipt of completed formal documents, sometimes
sooner with Fast Track.
Time Frame-Typically 24 hours after verification.
Reporting-Clients have 24 hour real time online access to account information.
Reserve Release-Daily, subject to availability and account standing.
18. Sectors - Likes (examples)
Staffing
Trucking
Manufacturing (all types where not sold on consignment)
Distributors
Security Services
Business support services such as consultancy, advice, etc.
Engineering for example oil support services
Printers
Wholesalers subject to appropriate dilution
19. Sectors - Dislikes (examples)
Construction (contractual receivables)
Progress billing
Third Party Medical Receivables
Legal claims
Home building sector (currently stressed)
Bibby has developed a “What Can We Do Mentality”. Additional collateral can
mean we can consider some clients who may be “Outside of the Box”
20. Contact information
• Ian Varley
• ivarley@bibbyusa.com
• Toll Free: 877 BIBBY IN
• Bibby International Trade Finance, Inc.
• 250 Chastain Road, Ste 150
• Kennesaw, GA 30144, USA
