Arbuthnot Commercial ABL backs MBO of ACL Engineering

Arbuthnot Commercial Asset Based Lending has completed a funding package to support the management buyout of ACL Engineering Limited, enabling the business’s leadership team to acquire the company as its founder prepares for retirement.

The funding package comprised an invoice discounting facility, cash flow loan and Growth Guarantee Scheme loan, supporting Finance Director Steven Smithard and his wife Kate in completing the acquisition.

The business is also an Atlas Copco Premier Distributor and has expanded from a local engineering provider into a regional operation serving customers across London, Buckinghamshire, Essex, Hertfordshire, Middlesex, Oxfordshire, Surrey and Sussex.

In recent years, ACL has also invested in energy-saving technologies including digital air leak detection, energy audits and air recovery systems, helping customers improve sustainability and reduce operational costs.

Steven Smithard, Finance Director of ACL Engineering Limited, said: “Arbuthnot Commercial Asset Based Lending made the whole process very easy. They explained everything clearly and were always available to talk, with regular calls to check everything was progressing well.

“They arranged a surveyor to come in within days and our Arbuthnot account manager was excellent throughout. When it came to choosing a lender, the key factors were how much they could provide and the terms available.

“The technology is good too, we can see the latest position across all our accounts at any time. If you’re considering an MBO, I would have no hesitation in recommending Arbuthnot.”

“This MBO transaction required a blended facility to achieve the right quantum to fund the purchase consideration. We look forward to supporting the team in the next phase of the business’s growth.”