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Arbuthnot provides working capital facility to shower company

Tom Belger | 14:55 Friday 21st September 2018

Arbuthnot Commercial Asset Based Lending (ABL) has provided a working capital facility to Majestic Shower Company.

The seven-figure facility will refinance the business’s existing banking arrangements to deliver more than double the quantum offered by its previous providers.

Essex-based Majestic produces premium heritage shower enclosures and has delivered prestige projects for One Hyde Park, The Lancasters in Hyde Park, The St Pancras Renaissance London Hotel, as well as the Shard’s residential apartments.

“Majestic is a highly scalable and compelling proposition as well as being a well-respected brand and we look forward to providing the level of funding and strength of relationship that will support the next stage in the evolution of this long-established, family owned business,” said Andrew Rutherford, commercial director at Arbuthnot Commercial ABL.

Majestic has a wholly owned subsidiary, Mistley, which – at a lower price point – offers access to a new market.

“Right from the word go, Arbuthnot Commercial ABL gave us the confidence that [it was] here to do a deal,” said Simon Rourke, finance director at Majestic Shower Company Limited.

“We had direct access to the people who make the decisions and the back-office support was seamless.

“We received constant contact, the process was smooth and straightforward, and they did everything that they said they would.

“We see Arbuthnot Commercial ABL as being perfectly aligned with our brand and key to our growth strategy going forward.

“The working capital provided by Arbuthnot Commercial ABL will be invaluable as we seek to progress new initiatives, with product development, production and international expansion also featuring high on our agenda.”

European Valuations conducted the asset appraisal and Bermans provided legal advice.

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