Arbuthnot Commercial Asset Based Lending has completed its first deal since launching earlier this year, providing OSET Bikes with a working capital facility to power its business growth.
OSET is a designer and manufacturer of electric trial, dirt, off-road and motocross motorcycles for children. Since its inception in 2004, the firm has built a presence in more than 25 countries around the world.
As a result of soaring demand and having won a substantial new order, OSET bikes had just four weeks to complete the transaction – and, as such, speed of delivery was imperative. Arbuthnot completed the deal ahead of schedule.
Managing director Tim Hawkins commented: “Supporting growth-orientated SMEs and mid-cap businesses is at the heart of what we do, and we are delighted to support OSET with the funding to power their ambitious growth strategy.
“We know that lasting relationships are built on trust and transparency, so we adopt a tailored approach that gets under the skin of the individual needs of the business. In this transaction, gaining a detailed understanding of the dynamics of the assets, supply-chain, processes and intra-group trading was essential to delivering the right structure and level of headroom for the business.”
Rikki Dinsmore, group global managing director of OSET Bikes, added: “From our initial meeting it was clear to us that Arbuthnot was motivated to support our business and facilitate our plans for growth. We are looking to double the size of the business by 2021; with so many huge opportunities for growth on the horizon, and with the strength of Arbuthnot’s ongoing support, we believe that this is a conservative forecast.”