Arbuthnot growth funding supports Andel’s expansion plans

Arbuthnot Commercial Asset-Based Lending (ACABL) has structured a £2.6m ($3.35m) growth funding package for Andel, an environmental protection specialist based in Yorkshire, UK.

This bespoke facility, which includes a £2m confidential invoice discounting line and a £600,000 growth guarantee scheme loan, replaces Andel’s previous lender following their exit from the UK market.

The funding will be used to refinance Andel's existing debt while offering additional capacity for growth. This includes investments in new plant and machinery and a premises fit-out.

Set up in 1992, Andel offers leak detection, water sustainability, flood defence, and environmental protection systems.

Approximately 90% of Andel's product range is manufactured in-house at its facility in Dodworth, South Yorkshire.

The company also operates a research and development division at the University of Leeds campus.

Arbuthnot Commercial Asset Based Lending commercial director Andrew Rutherford said: “We are pleased to support Andel with this tailored funding package that provides both increased facility headroom and enhanced financial flexibility to fuel the company’s expansion plans while maintaining its focus on innovation.

“Building strong relationships with ambitious businesses is at the heart of our approach, allowing us to create funding solutions that are truly aligned with their specific needs.”

Andel commercial director Mark Harris said: “What really appealed to us was the approach from Arbuthnot’s business development director, Richard Ackers. The deal had to be done at double-quick speed - we were speaking to each other and meeting several times a week.

“He saw how rapidly the business had grown and understood that replicating our previous lender would not work. If we had gone down that route, we would have had to revisit and renegotiate all over again as we were bound to need a bigger facility.”

ACABL is a specialist asset-based lender that focuses on delivering facilities to SMEs and lower mid-market corporates.

The lender provides an array of asset-based lending facilities, including invoice discounting, stock finance, and property and plant and machinery loans, alongside cash flow loans for various financial scenarios.

Last July, ACABL extended a £2m facility to Emerge Global, enhancing their investment in BritAm Shipping and raising Emerge Global’s facility limits to £8.25m.

"Arbuthnot growth funding supports Andel’s expansion plans" was originally created and published by Leasing Life, a GlobalData owned brand.

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