Funding package for expanding Aaron Engineering Group
Arbuthnot Commercial Asset Based Lending (ACABL) has structured and delivered a tailored growth funding package for Aaron Engineering Group Ltd (AEG), a leading engineering & infrastructure services group.
The group is expanding rapidly and required additional funding to support its next phase of growth. The package gives AEG significantly increased access to working capital to deliver its ambitious plans.
Founded over 25 years ago and headquartered in Stockport, AEG delivers integrated engineering solutions to critical infrastructure sectors across the UK. Aaron Rail supplies skilled trackside personnel and specialist engineering services to the UK rail industry, alongside its Aaron Civils and Aaron Guard (security) divisions. Aaron Access provides access control solutions, from automatic gates and barriers to CCTV, as well as Fire & Security and FM support services. Aaron HV Systems designs, installs and commissions high voltage electrical infrastructure, from substations to transmission networks.
AEG has regional offices in Yorkshire, Cumbria, and Warwickshire. Lee Hayes of Accountants, Armstrong Watson, introduced the opportunity to ACABL and advised AEG throughout the process.
John Lowndes, CEO of Aaron Engineering Group, said: “We’re a growing business and very ambitious. Until now, we had largely been self-funded with a small working capital facility, but we identified that our growth plans required additional funding support. Arbuthnot made the process painless. Richard Ackers came to a meeting, saw our presentation and understood our requirements straight away. He said, ‘Leave it with me, this is what we can do for you’; we met several people at Arbuthnot and they were all very easy to deal with. Having Arbuthnot on board as our funding partner gives us strong backing to push forward with growth.”
Richard Ackers, director, business development (North East) at Arbuthnot Commercial Asset Based Lending Limited, said: “We are delighted to provide this comprehensive funding package for Aaron Engineering Group, and it’s a pleasure to work with John and his highly experienced team. The team is very ambitious, and the new facilities we have structured give them significantly greater headroom to support growth, enabling them to take on further infrastructure projects across rail, security and high voltage sectors.”