Liverpool-based supercar manufacturer Briggs Automotive Co (BAC) has confirmed Close Brothers Asset Finance as its long-term finance partner.

Founded in 2009 by brothers Ian and Neill Brigg, BAC (www.bac.mono.com) is best known for developing the BAC Mono — the world’s only single-seat road-legal supercar. T

he car has been showcased on Top Gear, and it won the Supercar Shoot Out at the Goodwood Festival of Speed in 2018 with the fastest supercar time ever for this event.

The first deal between the Close Brothers Asset Finance and BAC has involved the release of funds against an existing asset — the first BAC Mono ever produced; this has allowed the company to complete the fit-out of a new building without affecting its cash-flow (www.closeassetfiance.co.uk).

Product development director Neil Briggs said: “We are proud of what we have achieved in a relatively short period of time.

“BAC understands the value of relationships, which is why we chose Close Brothers Asset Finance as a key funding partner.

“They share our commitment to long-term partnerships, and I am really pleased to have them along for the journey.”

Matthew Sproston, Close Brothers Asset Finance’s area sales manager, said: “BAC continually invests and collaborates to develop new and improved components, materials and technology to remain at the cutting edge of automotive manufacturing, so it was crucial they had a finance solution to suit their needs.

“By working together, we have been able to develop a tailor-made agreement that has released enough capital to cover the new building costs.”