Arbuthnot Commercial Asset Based Lending (“ABL”) has supported Longacre Group’s acquisition of Allenwest Limited (“Allenwest”), a designer and manufacturer of explosion-proof and rugged electrical power supply equipment, in a corporate carve-out from Ampcontrol Group Limited. The flexible £3m facility comprised an invoice discounting line and a CBILS term-loan. Allenwest is headquartered in Prestwick and began […]
Arbuthnot Commercial Asset Based Lending (“ABL”), the asset-based lending division of Arbuthnot Latham, the private and commercial bank, has completed a structured finance facility to support Gearing Up’s acquisition of the Portsmouth-based precision engineering and tool-making business, Langstone Group (“the Group”), alongside further investment from Panoramic Growth Equity. The acquisition sees the Group double in […]
Arbuthnot Commercial Asset Based Lending (“ABL”) has completed a flexible £4.5m funding line to support the growth of THREE60 Energy; a private equity backed global energy services group. The structured ABL facility, which comprised a £3m accounts receivable line and a £1.5m cashflow loan, will fund the increased working capital requirement associated with the next […]
Businesses are reporting serious challenges to supply chains, with stock lead times hitting 56 weeks for even the most basic items. Accountants, business and financial advisers Kreston Reeves in a survey of 100 businesses in London and the South East found that 41% are currently experiencing significant supply chain challenges with a further 17% expecting […]
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 […]
Indoor Climate Systems Limited, specialists in controlled business environments, has been provided with £2.4m in refinance and working capital by leading alternative finance provider to mid-sized SMEs, ThinCats. The Indoor Climate Systems (ICS) brand has been trading since 1992 from Lapworth in Warwickshire, and specialises in the provision of building services to both the commercial […]
SME manufacturers, supported by Made Smarter in their drive to digitalise, are upskilling over 1,800 workers to create the teams of tomorrow. The Made Smarter Adoption programme in the North West has worked with more than 1,200 businesses since 2019, supporting them to introduce digital tools and technologies to help boost productivity and growth, and […]
York-based specialist automotive engineers, ProSpeed, is to create six new jobs and plans are now in place to double the size of the 15-strong workforce over the next 12 months. It follows a huge increase in orders from across Europe as its reputation for bespoke Land Rover Discovery accessories and specially designed six-wheel Hi-Lux chassis […]
Manufacturing optimism in the three months to April improved at its quickest pace since April 1973, while investment intentions saw a strong, broad-based rebound, according to the latest CBI quarterly Industrial Trends Survey. The survey of 288 manufacturers found that firms expect to increase capital expenditure on buildings, plant & machinery, product & process innovation, […]
A leading UK precision engineering firm has transferred ownership to an Employee Ownership Trust in an eight-figure deal as the business targets future growth, with support from Shawbrook Bank. Retrac Group’s new Employee Ownership Trust (EOT) takes full equity of the Swindon-based company from chairman Andy Carter, whose father established the business in 1972. The […]
