Irwin Mitchell’s Banking Team Advises Arbuthnot Commercial ABL On Its First Deal

OSET Bikes Limited has secured a working capital facility from Arbuthnot Commercial Asset Based Lending to help fund its rapid business growth.

OSET Bikes Limited is a leading designer and manufacturer of electric trial, dirt, off-road and motocross motorcycles for children. It was established in 2004 and since then OSET has built a presence in over 25 countries around the world.

As a result of soaring demand and having won a substantial new order, OSET bikes had just four weeks to complete the transaction. Arbuthnot Commercial ABL completed the deal ahead of schedule and it marked its first deal since launching earlier this year.

Jon Bew, Banking partner at Irwin Mitchell in Birmingham provided legal advice on the deal.

Ian Smith, Chairman and founder of OSET Bikes Limited and OSET Corp said: “We are a relationship-based business and having the Managing Director of Arbuthnot Commercial ABL at the meetings made a massive difference to us. In day-to-day business, experiencing excellent service is all too rare but Arbuthnot went the extra mile, even to the extent of offering to assure our supply-chain that the funding line was in place. We look forward to a long-term partnership with Arbuthnot Commercial ABL, based on a strong foundation of mutual trust.”

Tim Hawkins, Managing Director at Arbuthnot Commercial ABL, commented: “OSET Bikes is an innovative business that is carving out its own very exciting niche. 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.”