Arbuthnot Commercial ABL has supported the management buy-in of a West Sussex-based industrial manufacturer by entrepreneur, Stuart Whitehouse.
Whitehouse acquired Flotronic Pumps, which produces air-operated double-diaphragm pumps with a £1.5m asset based lending facility provided by Arbuthnot Commercial ABL comprising of receivables finance, together with a plant & machinery term loan and a cash flow loan.
Not only did the facility support the purchase consideration for the management buy-in, the revolving receivables element continues to deliver on-going working capital with the flexibility to grow with the business.
The pumps are used across a wide variety of industries and their unique ‘one-nut’ design allows for easy access for rapid disassembly and inspection in situ without disconnecting pipework, critical in hazardous and explosive environments where speed is essential.
Stuart Whitehouse was attracted to the deal in view of the business’s stable historic trading performance and potential for growth. With his background as a qualified chartered accountant and having spent 22 years running and growing a family business, Stuart is perfectly placed to drive the business forward.
Stuart Whitehouse, CEO, Flotronic Pumps Ltd, said: “The great thing about working with Arbuthnot Commercial ABL as a client is that you feel an important part of their business. That personal touch comes across in everything they do, from their service and support to the smooth and straightforward delivery of the facility. Transactions such as this are clearly a well-trodden path for the team at Arbuthnot and they make their experience count. We look forward to expanding our distribution network significantly and to furthering our international growth as a result of this deal.”