Arbuthnot Commercial Asset Based Lending backs Ignite Growth’s acquisition of APH Hydraulic Engineering
Arbuthnot Commercial Asset Based Lending (ACABL) has structured and delivered a multi-million-pound facility for APH Hydraulic Engineering Ltd (APH), consisting of a confidential invoice discounting facility and a cashflow loan. The new facility supports Ignite Growth’s acquisition of the company as part of its long-term investment in leading UK specialist businesses.
APH is the third deal delivered by ACABL for Ignite and provides an excellent fit within Ignite’s portfolio of engineering businesses. APH specialises in the design and manufacturing of hydraulic cylinders and actuators for critical applications across defence, subsea, and broader industrial markets. Its products are designed to ensure maximum reliability and are constructed to the most demanding standards. Its customer base spans civil engineering, railway, nuclear, and defence establishments, engaging on projects such as deep-sea cable laying, mine clearance, ship stabilisers, wind turbines, tidal energy, fire trucks and bridge lifting.
Founded in 1964 and headquartered on the outskirts of Glasgow, APH has been a family-owned business for over 60 years. With the owners wishing to retire and a strong management team already in place, the new ACABL facility supported the acquisition and provides headroom to further build APH’s leadership position under its new long-term ownership.
Andrew Leek, artner, Ignite Growth, said: “Arbuthnot yet again demonstrated how easy they are to deal with by delivering a well-designed facility in a flexible, swift, and smooth manner, which for us is their hallmark. We believe businesses like APH play a vital role in supporting sovereign capability and strengthening the UK’s industrial base, and we’re excited to be supporting the team in delivering on that potential.”
Joe Taviner, director, business development, at Arbuthnot Commercial Asset Based Lending Limited, said: “We are delighted to have delivered a third facility for Ignite and to be continuing to support them in the development of their impressive portfolio of leading UK businesses. Like Ignite, we value long-term business relationships and work hard to leave no stone unturned in delivering the right solution every time.”