Arbuthnot Commercial ABL backs MBI for Bornmore Metals, to strengthen and expand regional presence
Arbuthnot Commercial ABL has funded the Management Buy In of Bury‐based Bornmore (Metals) Ltd , a long-established non‐ferrous metals stockholder, for an undisclosed sum. The transaction sees incoming managing director and investor Ian Griffiths acquire 100% of the shareholding of the business and provides a platform for Griffiths to bolster regional presence and expand the product range.
Ian Griffiths, the new MD of Bornmore Metals, said: “My very first order in my first job was from Bornmore Metals, so I have known the business for a long time. I was approached by the vendor’s agents and saw an excellent opportunity to acquire the business. Our advisors recommended Arbuthnot Commercial ABL to both fund the MBI and to provide additional working capital in order to maintain the company’s growth and accelerate the pace. With Arbuthnot Commercial ABL, I feel we have a partner, not just a bank. They are there whenever we need them and are very straightforward to work with. We have ambitious plans to double our revenues in 3 to 5 years with their support and have an opportunity not only to lead but also to dominate our market.”