KPMG advised Boom Logistics on debt refinancing, which included due diligence on their financial information and asset base.
KPMG advised Boom Logistics on debt refinancing.
KPMG advised Australia’s largest mobile crane operator, Boom Logistics, on the refinance of its $57.5 million syndicated debt facility. Prior to engaging KPMG, Boom Logistics had been through a challenging period due to a downturn in mining activity, which had created some operating and financial pressure on the business.
As part of the transaction, our Debt Advisory team completed a strategic funding options report for the client, bringing together a range of alternative financiers. The result was a 90 percent reduction of Boom Logistics’ debt amortisation profile, extended tenure of up to 5 years, and an improvement in terms.
“KPMG was accessible, communicated regularly and appropriately and was flexible in their approach to the engagement. They provided access to different finance providers through their contacts and network, which was invaluable to the deal. I am very satisfied with the level of service and individual team members on the engagement and would not hesitate to recommend KPMG’s services.”
– Tim Rogers
Given the specialised asset class in which Boom Logistics operates, the transaction also required a detailed due diligence process of Boom Logistics’ financial information and asset base. The solution required bringing together a full range of alternative financiers and careful negotiation to manage a number of different requirements by each stakeholder.
Throughout the transaction, our Debt Advisory team built a very strong relationship with Boom Logistics senior executives, including the CFO and CEO, who provided great feedback on KPMG’s support.