Case Study: Growth funding secured for Glasgow media company’s expansion 

Background 

QTV, a Glasgow-based media company, was looking to invest significant sums in an innovative production facility to unlock new market opportunities, both in the UK and abroad. 

We had started working with the company in 2020; however, the Covid-19 pandemic severely impacted the business, and we had to look at and assist them in securing short-term funding to stabilise the business, before looking at any longer-term plan. Once this was successfully achieved and the business was on a firmer footing,  focus returned to the long-term growth strategy.

What we did

Mark McRae and Euan Ferries worked extensively with the then commercial director and part-time finance director on a comprehensive business plan and financial projections, which identified the financial aspects of the expansion and future funding needs. 

Our input involved firstly getting a full understanding of the business and its plans, helping with the drafting of a business plan narrative and developing a financial projections model with a view to producing an “investor-ready” plan.

We then worked with the company in securing a funding package worth more than £1.25m (beyond the Covid funding we helped secured), comprising equity, debt and grants.  Work in this area involved:

• Introducing the company to potential funders and supporting them in initial discussions

• Completing application forms as required

• Assisting the company through the funders’ appraisal of the proposition

• Support in funding negotiations with a view to agreeing outline terms
• Working with the company’s legal advisers to conclude the various funding agreements

In addition to the business plan and projections, we also advised on valuation, tax aspects and shareholder structure, including support in setting up an Enterprise Management Incentive (EMI) scheme.

Results

The team’s input and support have meant QTV was able to secure the capital needed to scale its operations and continue to deliver results.

Telfer Boyd, QTV’s Chief Operating Officer, said:

"Working with Euan and Mark was transformative for QTV as it began its scaling journey. They helped frame the founders' vision, and supported me with establishing a repeatable growth funding pipeline that has delivered over £7.5M in the last six years."