TOWER is a progressive, forward-looking company, but often entrepreneurial projects are looked upon with caution when it comes to financing.
"This is the beginning of an exciting partnership, and we are proud to be standing alongside TOWER, particularly at this unprecedented time where it can play a critical role in assisting the global fight against the coronavirus." - Jonathan Wynn, Investec
A key example is the funding struggles TOWER suffered in the early days, and even now Pollard mentions that “time had been wasted chasing down what were inappropriate sources of funding, from dozens of conversations.”
However, with Investec’s Private Capital team working directly alongside Storvik and Fyksen to inject new capital to fund a 400% expansion of TOWER’s stock of cold storage containers, Pollard can look to the future with promise, not just in the domestic market, but globally as well.
“The new growth capital from Investec’s backing is going to make a colossal difference. The build program of new containers, funded from this investment round, is so instrumental because it gets us to that critical mass where major operating efficiencies can now be unlocked. The increased size and scale allows us to better service our client’s international needs, by enabling us to follow them into new markets where our solutions are needed most. Has the involvement of Investec helped? You’re absolutely right it has. Clients ask - What is TOWER? What is the kit? Is it sustainable? Is TOWER the right partner? We know that we already have the answer to the first questions, but with Investec alongside us it will give our market the confidence to develop global partnerships with TOWER.”
Storvik concurs; “We found, with Investec, an impressive willingness to think outside the box in order to come up with a financing solution that is tailored to our specific circumstances. Even in the very early stages, we sensed a genuine interest in understanding and engaging with the business, and in thinking how Investec could help to make it a success both in the near term and as a long-term partner on our side of the table to help the business realise its maximum potential.”
The alignment between Storvik, Fyksen, Pollard and Investec’s approach to entrepreneurialism has created a harmonisation to build towards success, the shared values and culture running throughout all three parties.