Doing Business With Fusion Client Cases
In 2005 Maurice left his position at a leading tent manufacturer to start his own company - Ark Tents and Leather limited. Maurice experienced rapid growth from day one and managed to win over some large tour companies, who today remain his loyal customers. Maurice produces high quality tents, seat covers, and luxury leather items such as handbags and wallets at his location at Ngong Professional Centre. The rapid growth required large capital injections, and Maurice chose Fusion Capital for his original loan in 2008. He has since built up a great credit history and become one of Fusions Equity investment Partners. "Fusion has been of great help to our firm. They understand my business very well, and with their financial assistance, we have been able to boost our production" (states Maurice). Through the relationship with Fusion, Maurice has been able to grow Ark Tents from turnovers of KShs 11 million to its current level of over KShs 30 million annually. He now employs over 20 full time workers, and supplies successfully in a market previously dominated by foreign products. Maurice regards Fusion Capital as his key business partner for the continued growth of his company.
Findesio Mbuki established Zetech College in 1999 with a strong theme of "Developing Careers" and an ambitious dream of becoming the University of Choice in the Nairobi area. Before Findesio approached Fusion Capital, Zetech College already boasted an impressive teaching body and competitive rates, however the school lacked the facilities to compete with the Major educational institutions. Findesio has borrowed three business growth Loans from Fusion Capital. With help from Fusion Capital, Zetech has been able to open two new campuses in the Nairobi area and update its ICT facilities. Findesio often comments of how "the money was just a small part of the reason for partnering with Fusion Capital for this huge step". As he recalls "the direct support and motivation from the Fusion team was invaluable".
Victoria Joseph left her job as a banker, in January 2005, to work in a printing company. Victoria saw potential in the industry and decided to use her savings to start her own company under the name Design One Ltd. Until recently the company focused only on designing products such as brochures, pamphlets and business cards. Design One was working at almost full capacity, however, profit margins were low due to the high cost of outsourcing printing. With the help of Fusion Capital, Victoria has been able to purchase a printing press, allowing the company to have full control over the quality and consistency of its product. Since partnering with Fusion Capital, her competitiveness and income has risen significantly, due to decreases in product cost and processing time. Victoria now sees a bright future for her growing business.
Graceland Athi River is a housing development company engaged in building high quality executive housing in the up-and-coming Athi River area. The site is more than 23 acres of prime land, and 209 houses will be built between 2009 and 2012 at a cost of more than Ksh 1 billion. The first phase of the project will be released in 2010, comprising 52 high-specification maisonettes in secure courtyards. One of the joint-venture partners for the project approached Fusion in 2009, and were able to agree equity funding for part of the cost. This was important – although it would be possible to fund the entire project with bank debt, this would be high-risk for the promoters, who wanted to keep the level of gearing in the project as low as possible. One of the advantages of equity finance is that, because it does not carry a fixed level of interest, or have a fixed repayment date, it can be used to build in financial flexibility. Grant Smith, on behalf of Athi River commented: ‘We were very happy to find a supportive equity investor in this project. The process of agreeing a deal was straightforward, and we look forward to doing business with them again.'
