Arbuthnot Commercial ABL supports Amcomri Group’s acquisition
Arbuthnot Commercial ABL has supported Amcomri Group’s (“Amcomri”) acquisition of Manchester based J A Harrison & Co. (“J A Harrison”) with a £5.23m facility.
The all-asset funding package, which comprised facilities against debtors, plant & machinery and property together with a CBILS loan, has been structured to provide ongoing working capital to enable post-acquisition growth.
J A Harrison & Co. boasts an enviable manufacturing heritage dating back to the foundation of the company in 1900. Since then, the business has expanded through both organic growth and strategic acquisitions. Today, J A Harrison provides world-class manufacturing of gaskets, seals, o-rings, gland packings, PTFE and plastic technologies to companies and OEMs worldwide, spanning many specialist industry sectors.
Amcomri is a fast-growing, acquisitive Group focused on UK based specialty engineering and manufacturing companies.
Mark O’Neill, investment director at Amcomri Group, said: “J A Harrison is a well-invested and well-run business that fits well into our specialist engineering division. We have a particular focus on retirement acquisitions and could see an excellent opportunity to buy a business with a strong management team in a sector we know well. We are delighted that Keith Shepherd has decided to remain with the business both as a Director and a minority investor, and we look forward to working with him to continue the success the business has enjoyed over many years. We have a strong relationship with Arbuthnot Commercial ABL who were the ideal choice of partner to fund the acquisition and provide supportive, on-going working capital following the completion of the deal.”
Andrew Rutherford, commercial director at Arbuthnot Commercial ABL, said: “We were delighted to support Amcomri with this important strategic acquisition. With an established team, state-of-the-art manufacturing facilities and a loyal customer base, and now with funding aligned with its ambitions, J A Harrison is ideally placed for strong growth. We are proud to support the business through the next stage of their success story with an all-asset funding package structured to enable and encourage continued expansion.”