Arbuthnot Commercial ABL completes asset-based loan for acquisition
Arbuthnot Commercial ABL has completed a £2m asset-based lending (ABL) transaction in support of the acquisition of Circum, a fire protection services specialist, by EA-RS Fire Engineering (EA-RS).
The facility comprises of a flexible confidential invoice discounting line and a term loan.
The acquisition has enabled EA-RS to become a certified provider of sprinklers; a product which they are often asked to deliver as part of a total fire safety solution.
Mark Wheeler, managing director of EA-RS Fire Engineering, said: “It was only when we discussed the acquisition with Arbuthnot Commercial ABL that we got traction on the deal.
“As a team they are phenomenal to work with, offering an entirely different experience to that of other providers we have worked with in the past.
“Their team sought an in depth understanding of our business and what we wanted to achieve, while ensuring we arrived at a pragmatic solution that worked well for both parties.
“This is very much the beginning for our business.
“We look forward to making further acquisitions as we further our geographic expansion and product offering.”