Arbuthnot Commercial Asset Based Lending Ltd. (“Arbuthnot Commercial ABL”) is pleased to announce that it has provided a secured £1.5m revolving funding line to leading London‐based creative services agency, Loveurope and Partners Limited (“LEAP”).
Founded in 1988, LEAP is the leading independent specialist creative production agency in the UK. They work directly for the brand and professional marketing community, as well as in collaboration with strategic creative and media planning agencies, to produce and deliver advertising content across all languages, markets and media channels.
The business, which has expanded significantly in recent years through a series of acquisitions, now employs 100 people, working in integrated teams consisting of creatives and designers, language and culture experts, film and image makers, digital technologists, content producers and production specialists.
With the facility from Arbuthnot Commercial ABL in place, the agency will be able to take advantage of greater availability of working capital than its previous banking facilities, complementing its continued appetite for further growth and expansion.
Steven Owens, CEO, Loveurope And Partners Limited, said: “LEAP is a business built upon partnership and we are therefore delighted to have found a commercial team at Arbuthnot Commercial ABL that is on our wavelength. We see real benefits from working with an entrepreneurial financier with a good understanding and empathy with our industry and there is a real sense that we are sharing our growth journey together. We are able to pitch with confidence, secure in the knowledge that in Arbuthnot Commercial ABL we have an experienced funding partner that is supportive of our vision and can make swift decisions, which will definitely impact positively on our growth in the years to come.”
Andrew Rutherford, commercial director at Arbuthnot Commercial ABL, commented: “We are delighted to support LEAP with a revolving working capital facility that is perfectly suited to the fast‐paced marketplace in which they operate. This dynamic environment demands a flexible facility that will scale with the business as it takes on a bigger range of projects and opportunities.
“The creative industries are a true UK success story and a resilient sector in which Britain’s companies can excel. Arbuthnot Commercial ABL is pleased to be supporting the growth of companies such as LEAP in this space, helping to cement the UK’s reputation as a global leader of creativity.”
LEAP was advised by Gareth Connor of First Financial with legal preparation by Bermans.