Arbuthnot Commercial Asset Based Lending (ABL) Ltd has provided OSET Bikes with a working capital facility to power its rapid business growth.
It is the subsidiary of Arbuthnot Latham & Co’s first deal since launching earlier this year.
OSET Bikes is a designer and manufacturer of electric trial, dirt, off-road and motocross motorcycles for children and has built a presence in over 25 countries.
Due to demand and having won a substantial new order, OSET Bikes had just four weeks to complete the transaction, but Arbuthnot Commercial ABL was able to complete the deal ahead of schedule.
The lender was introduced to the bike manufacturer by John Dodsworth, founder of Open InVoice Finance, while SIA Group conducted the asset appraisal and collateral due diligence, with Irwin Mitchell providing legal advice.
“Supporting growth-oriented SMEs and mid-cap businesses is at the heart of what we do, and we are delighted to support OSET Bikes with the funding to power their ambitious growth strategy,” said Tim Hawkins, managing director at Arbuthnot Commercial ABL (pictured above).
“We know that lasting relationships are built on trust and transparency, so we adopt a tailored approach that gets under the skin of the individual needs of the business.
“In this transaction, gaining a detailed understanding of the dynamics of the assets, supply chain, processes and intra-group trading was essential to delivering the right structure and level of headroom for the business.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
British Business Bank UK Network aims to improve funding awareness across UK
The British Business Bank UK Network will help to improve awareness of funding options across the UK by directly approaching business finance professionals...
Building with confidence in challenging times
It is difficult to think of a time in the past three decades when the chasm between the interests of UK business and the Palace of Westminster has been more exposed than the Brexit debacle...
Real Property Finance passes £100m in deals with Cambridge & Counties Bank
Cambridge & Counties Bank has provided more than £100m of loans for the clients of Real Property Finance (RPF)...
Metro Bank reports 48% increase in lending
Metro Bank has reported that its lending increased by 48% in 2018 compared with 2017...
Metro Bank appoints Luke Lloyd-Davies to advisory board
Metro Bank has appointed Luke Lloyd-Davies to its advisory board...
OakNorth: how some of the entrepreneurs we’ve lent to first got started
For many, the new year brings with it new possibilities and the chance to explore new opportunities...
Hanley Economic BS to push self-build offering
Hanley Economic Building Society is set to commence an extensive 2019 self-build campaign as it aims to engage with growing numbers of self-builders...
NatWest offers Esme Loans directly to its SME customers
NatWest will now offer Esme Loans products directly to its existing SME customers...
OSB appoints new NED
OneSavings Bank has announced that it has appointed Sarah Hedger as a non-executive director, with effect from 1st February...
Tandem Bank reaches 500,000 customers
Tandem has announced that it has reached 500,000 customers one year on from being granted a full banking licence...
Bank Leumi UK appoints new head
Bank Leumi (UK) has appointed Sarah Ryman (pictured above) as its new head of premier banking and liabilities...