Posted by: Danielle Moore at April 27, 2022
Hill Earthworks is a third-generation family-owned earthworks, excavations and civil construction company that operates throughout South Gippsland and south eastern Victoria. Since starting in agriculture and farming nearly 60 years ago, the company has branched out to include clients in the commercial, civil, demolition and concrete industries over the past 12 years.
It is currently experiencing unprecedented growth under the leadership of the Hill brothers, Chris and Graeme. With Chris’ operational skills, and Graeme’s background in business management, the pair make a strong team.
The challenge faced by Hill Earthworks
Hill Earthworks has been enjoying great success under the management of the Hill brothers. After winning an extraction contract recently, the company needed a new 50-tonne excavator and three 30-tonne dump trucks.
The company was in the final stages of securing funding for this equipment when the financier they had required information that Hill Earthworks could not yet provide, due to the early stages of the project.
The deal fell through as a result, leaving Hill Earthworks with a need for urgent finance. Making matters worse, machinery transported from 23 December to 4 January in Victoria, which the start date of the new project. This left them with three days to secure funding.
The Rebus Capital solution
Graeme first heard of Rebus Capital’s Krissy Huxley from a sales representative when discussing the acquisition of new machinery. “Get in touch with her, you won’t regret it,” he was told.
Despite the company’s funding challenge, within 36 hours, Krissy had arranged an interim solution, providing Hill Earthworks access to the equipment required to fulfil the contract. “The deal she arranged was better than the offer we had from the initial funder. I was impressed what she made happen in such a short period of time,” says Graeme.
With the project underway, Hill Earthworks now had a sound financial track record, which gave them the option of refinancing via traditional channels in the future. With the urgent funding issue dealt with, Krissy then moved into a capital advisory role. She simplified Hill Earthwork’s long-term capital structure by consolidating its debts and is now refinancing the company’s equipment. Hill Earthworks can now leverage the equity in their equipment and fund growth, allowing them to capitalise on future opportunities.
“Krissy provides value to the business. It’s not always just about the bottom line. She identifies what the business needs and how she can facilitate, in whatever capacity she can.” – Graeme Hill
Why Hill Earthworks chose Rebus Capital
Hill Earthworks’ urgent financing issues were simply the catalyst that established a now strong relationship between them and Rebus Capital. Graeme has found, like many other business owners, that staff in traditional banks tend to move or leave just as a relationship is being formed.
In contrast, Rebus Capital offers strong, long term client relationships and he appreciates having someone he can talk to for financial advice and who understands his business.
“The deal matters, but it’s more about the value Krissy adds. I have called her for financial advice multiple times, and she gives me straight answers. The relationship is what we value.” – Graeme Hill
Contact Rebus Capital for your capital solutions
Would your company benefit from restructuring and refinancing debts? If you’re looking for corporate or specialist finance support, talk to Rebus Capital today.
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