Arbuthnot Commercial ABL structure £10.7m ABL facility for Anglian Windows

01-Aug-2019

Arbuthnot Commercial ABL has structured a £10.7m asset based lending facility for Anglian Windows Limited (Anglian); one of the UK’s leading end-to-end retailers, manufacturers and installers of home improvement products such as windows, doors, conservatories, roof trim and garage doors.

Anglian is a portfolio company of Alchemy Special Opportunities, a leading private equity investor with £1.6bn of assets under management. The client and sponsor were advised throughout by FRP Advisory. Anglian employs 1,500 full time staff and provides a nationwide service from its Norwich HQ.

The comprehensive all-asset facility is designed to generate maximum availability by funding Anglian’s trade receivables (both invoiced and unbilled elements), bespoke inventory, specialist plant & machinery and commercial property.

The Arbuthnot facilities replace Anglian’s previous overdraft with additional liquidity headroom to be deployed in support of the planned growth of the business and to manage the cash flow seasonality.

Alex Leicester of Alchemy said: “Arbuthnot Commercial ABL delivered a pragmatic, flexible and commercial deal structure. The two main factors that set Arbuthnot apart in the competitive process were their preparedness to invest time in getting under the skin of the detail and their responsiveness. They really looked to understand the quality of the asset base and the interconnectedness between the retail operation and the social housing business and their revenue cycles to create the level of funding required.”

He continued: “With the new working capital platform in place from Arbuthnot Commercial ABL, Anglian is ideally positioned to grow its market share, broadening its product offering and increase its geographical presence. We look forward to continuing our relationship with Arbuthnot to support these initiatives.”