Arbuthnot Commercial ABL delivers funding line to enable Scotts and Co to drive further growth

11-Jul-2018

Arbuthnot Commercial Asset-Based Lending has completed a refinance for multichannel retail business, Scotts and Co., with a flexible facility incorporating confidential invoice discounting and a revolving stock funding line.  This closely follows Arbuthnot Commercial ABL’s last deal, a £12m facility to support Sullivan Street in its acquisition of Tivoli. 

Scotts and Co. is a group focused primarily in the home, garden and gifting sectors, comprising the brands “Scotts of Stow”, “Expert Verdict”, “The Original Gift Company” and “Bloom”. 

Tim Hawkins, managing director at Arbuthnot Commercial ABL, commented: 

“We are delighted to be working with Scotts and Co. to reshape its funding to better support the business as it grows. Once again, we are pleased to have been selected in a competitive tender for our pragmatic approach to developing funding solutions that make a real difference for our clients.” 

Nigel Swabey, chairman & CEO, Scotts Limited, said: 

“We have found the facility to be revolutionary in allowing our funding availability to increase in proportion with the stock we are holding. The funding from Arbuthnot Commercial ABL delivers even greater stability, enabling us to commit to developing products and having them manufactured by our partners overseas, knowing that we have the commitment of an enlightened lender who can flex according to our requirements. We look forward to working with Arbuthnot Commercial ABL as we reshape the business for the future.” 

Alistair Lee, partner, Argyll Partners, said: 

“We have known the team at Arbuthnot Commercial ABL for a number of years and they came up with an offer that worked really well. Their team was commercial and pragmatic, the process was slick and the response was prompt. Asset-based lending is new for Scotts and the facility that Arbuthnot has structured for them supports their ambition to grow the business further.”