From Business Acquisition To Quarry Mobilisation.

An established business and a fleet to understand

Crezzco operates near Launceston, Tasmania. Jesse Medwin owns and runs a business supplying quarry and crushing products, fertiliser to local farmers and bulk haulage services. It owns a quarry and undertakes quarry contracting work.

James Allan met Jesse in late 2024 or early 2025 as Jesse worked through the acquisition. Jesse had sold a successful finance brokerage and was involved in a family civil contracting business. He knew lending, but this purchase brought an operating business and a varied fleet of approximately 50 assets together.

Jesse was already arranging acquisition funding when MFG became involved. We examined the equipment and debt position within the wider transaction, looking for alternatives to placing all funding with one lender.

Dissecting the equipment debt

A business can have one negotiated purchase price without funding every asset in the same way. MFG reviewed the fleet and its existing commitments, then considered which equipment could be financed separately through suitable lenders.

That gave Jesse options during the acquisition. Spreading eligible equipment debt could reduce the amount sought from the principal acquisition lender and create room to negotiate credit conditions, including security. MFG consulted on the wider funding position and arranged finance for selected equipment. We did not finance the entire business purchase.

The review also gave Jesse a clearer starting point as owner: what sat in the fleet, which lenders already had exposure and where future capacity might be available. He could consider older assets and replacement needs with the full operation in view.

Roughly $2 million of crusher and screener plant

At the same time, Jesse pursued a local quarry crusher and screener contract. Delivering the work required roughly $2 million in additional equipment, including a Terex crusher and a Finlay screener. The funding request had to account for an ownership transition and a new equipment program together.

MFG worked with Jesse and his accountant on three-way financial projections: forecast profit and loss, cash flow and balance sheet. Those forecasts helped lenders understand the proposed operation, mobilisation and repayments beyond a simple revenue estimate. We took the transaction to lenders with an appetite for equipment funding supported by credible forward projections.

Approval was secured for the equipment Jesse needed. The structure combined an initial cash contribution with accelerated repayments, preserving more cash than a larger upfront deposit would have.

From the projections to production

The crusher and screener contract is now operating, with the plant working towards its required production volumes. Crezzco’s bulk haulage operation is busy alongside it. Roughly six or seven truck and tipper-and-dog combinations have full-time drivers moving fertiliser, quarry products and other bulk loads around the region.

Crezzco’s fleet connects the work at the quarry to customers beyond the site. Trucks, trailers, loaders and work vehicles all make different demands on the funding position. MFG continues to help with suitable new and used purchases, including dealer and private-sale transactions, while keeping lender exposure and available lines in view.

Another working part of Crezzco

Crezzco also operates a concrete batching plant and runs agitator trucks to supply concrete. It is another practical part of a business whose work spans quarry material, crushing, fertiliser, haulage and concrete supply. The operating fleet has to support those activities at the same time, not as separate businesses on a spreadsheet.

The batching plant and agitators add another set of equipment and cash requirements to Jesse’s planning. When he considers a new purchase, MFG looks at the commitments already in place and what capacity that leaves for the next opportunity.

A plan for the business’s own quarry

Crezzco owns its own quarry. Jesse plans to move the crusher and screener equipment there when the current contract finishes, so the business can produce and supply material from its own site. That is the next plan, rather than an outcome already completed.

James and Jesse continue to consider work vehicles, trucks, trailers and replacement machines against the existing debt schedule. We have discussed overdraft and debtor finance as possible future facilities, without putting either in place yet. Jesse’s finance background makes the conversations direct and collaborative: the numbers and practical requirements can be worked through together before a commitment is made.