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Whelans Group return to mainstream banking with the help of Rebus Capital

Posted by: Danielle Moore at February 01, 2023

Whelans Group is a family-owned and operated earthmoving and quarrying construction company. Started in 1975 by Charlie Whelan, it’s now East Gippsland’s largest and most professional civil construction company, with associated quarries and heavy haulage. The group also runs farms and owns over 600 head of Angus head and calves.

Owned and operated by the Whelan family, all of Charlie’s sons are managers in the business. Each is responsible for their own portfolio and brings extensive experience in civil engineering, law, diesel mechanics and finance. 

The challenge faced by Whelans Group

In 2013, the family business faced some financial challenges. The company needed access to capital to upgrade machinery and vehicles to survive but lost confidence in getting support from traditional banks.

Krissy helped the team to explore alternative lenders and secure finance to purchase the machinery they needed to grow the business. Through the partnership of Krissy and the internal finance teams at Whelans, the group began to see opportunities for the future.  

Now sitting on the edge of where they want to be financially, the team established clear goals of what they’re looking to achieve in the next 12-18 months. They no longer wanted to be cash backed by themselves and were interested in refinancing to get a better deal. 

The Rebus Capital solution

When Krissy first met the team at Whelans Group, they needed a staged process to bring them out of financial distress and back into mainstream banking. Over the years, Krissy has settled more than 30 transactions for Whelans, ranging from equipment finance to working capital and term debt, to get them in a strong position financially.

These deals meant they were in a solid position to negotiate with lenders to get the terms they wanted to refinance, securing the best value, terms and interest rates. Krissy worked with the group to provide the bank with options, so they could be masters of their own destinies and make choices that were right for their future growth. 

Working alongside Krissy, the group clearly articulated its vision for the future – to a level of detail banks rarely see. This detail and their proven financial competence and capability over the last few years helped secure the right deal for them. 

This most recent transaction for $20m+ consolidates all the transactions the Group and Rebus Capital have completed over the past few years.

Why Whelans Group chose Rebus Capital

Whelans Group was originally looking for finance to help increase their fleet and grow the business. The team came across Krissy’s details, and she arranged an initial asset finance deal to secure a particular piece of machinery.  

“She was very switched on, obliging and competent. We found her really easy to deal with and knowledgeable” – Charlie Whelan

After the initial asset finance deal, Krissy helped the team refinance, setting the correct parameters to move the group into the black successfully. In addition, Krissy’s knowledge of the industry meant she could provide bespoke solutions and look at options from a different perspective.

Over the years, Krissy has brought the team at Whelans many deals and provided a lifeline for their company. 

“She’s a real person. I think one of the best things about her is that there’s no sugarcoating. She lets the numbers do the talking. She’s also not stagnant in her thinking and doesn’t give people false impressions of her.” – Charlie Whelan

Contact Rebus Capital for your capital solutions

Do you need help with refinancing like Whelans Group? Would your company benefit from restructuring? Talk to Rebus Capital today if you’re looking for corporate or specialist finance support.

Please get in touch.

Danielle Moore

The Trustee for the Rebus Capital Partners Unit Trust ABN 88 452 904 420. Authorised Credit Representative 523233 under Australian Credit Licence 536100.