Arbuthnot Commercial ABL backs Three Pears
Arbuthnot Commercial Asset Based Lending (“ABL”) has structured and delivered a substantial refinance facility for Three Pears Ltd (“Three Pears”), providing the funding to acquire five heritage brands, including Harmony (hairspray & colour); Amplex (deodorant); Stergene (washing liquid); Ingram (shaving foam) and Leichner (makeup).
Arbuthnot Commercial ABL received a referral to Three Pears from Maven Capital Partners. After the referral, the team at ABL acted quickly to tailor a comprehensive asset-based lending package, consisting of a revolving invoice discounting line, an amortising stock facility and an additional term loan.
Founded in 1973, Three Pears is a Midlands-based, family-owned business with strong ambitions for growth. Over the years, the company developed a strong heritage collection in which it reformulated, rejuvenated, and reimagined classic brands from the ‘70s and ‘80s. The company already has 12 brands within its existing portfolio, ranging from Cyclax 1896 Skincare ranges; Nailoid Results; Nail Care and Treatments; Natural Classic Original Henna Hair Treatment Wax and Dry Shampoo; Blue Stratos; Rapport; Mandate; Gold; to Le Jardin Fragrances and Skincare.
The addition of a further five brands, secured with the funding delivered by Arbuthnot Commercial ABL, forms an important part of the company’s strategy to make the transition from being a wholesaler to exclusively becoming an owner of renowned and well-loved classic fragrance, skincare, personal care, and healthcare brands.
Edward Dunn, chairman of Three Pears Ltd, said: “It is exciting to fulfil a long-held strategic vision centred on bringing Great British brands home. The team at Arbuthnot Commercial ABL really got behind our strategy and were enthusiastic about our plans. They could see how our move towards brand ownership would boost our margins and profitability and worked closely with us to structure the right facility to give us the working capital to further develop and extend our product range, with the security of sufficient funding. Our future plans also include securing export opportunities with new distributors, and we will certainly be talking with Arbuthnot Commercial ABL about future brand acquisitions.”
Andrew Rutherford, commercial director at Arbuthnot Commercial ABL, said: “We are thrilled that our funding has enabled Three Pears to acquire and rejuvenate famous and much-loved British brands that are trusted by consumers and the trade alike. The manufacturing expertise of the business, together with their understanding of export markets, provides them with a major competitive edge. In many ways, this transaction represents what Arbuthnot Commercial ABL does best, working as a team to help our clients achieve their strategic objectives by providing the right level of funding with speed and certainty.”
