Arbuthnot Commercial Asset Based Lending (“ABL”) has structured and delivered a comprehensive working capital facility to support the acquisition and growth of Stacatruc Limited (“Stacatruc”), backed by Merino Private Equity LLP and a highly experienced new MD to the business. The financial terms of the transaction are undisclosed.

Established for over 40 years and headquartered in Berkshire, Stacatruc Limited is a forklift truck hire, sales and maintenance group, specialising in providing quality new and used machines, support and aftercare. Stacatruc has been recognised as the largest Clark forklifts vendor in Europe for the third successive year. The company is also the UK’s number one vendor for new BYD lithium battery forklift trucks, which charge from flat in only 90 minutes.

Ben Reavley, investment director at Merino Private Equity LLP, said: The new facility provided by Arbuthnot Commercial ABL will generate significant additional headroom enabling Stacatruc to make further investments in stock and CapEx, in addition to growing the service team. The future for the business is exciting, aligned with the structural trends surrounding e-commerce and the expansion in warehousing in the UK.

This is the first time I have worked with Arbuthnot Commercial ABL on a transaction, and it has been a very positive experience. There were quite a few challenges that cropped up along the way and Arbuthnot’s team was very nimble, involving credit at an early stage and resolving issues quickly as the circumstances evolved”

Andrew Rutherford, commercial director at Arbuthnot Commercial ABL, said: “This was an excellent private equity sponsored deal with a leading forklift group. It was enjoyable to work with the team at Merino Private Equity on this transaction as well as the experienced management team at Stacatruc. Working on transactions in which deal structures change requires an agile and responsive approach in addition to a single-minded focus. This is a key reason why deals receive the attention of experienced senior decision-makers right across the whole team and why short lines of communication are a necessity in the event-driven funding space.”