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Irwin Mitchell Advises On Anglian Refinancing

New Funding Deal Will Support Home Improvement Company's Growth Ambitions

10.07.2019

David Shirt, Press Officer | 0161 838 3094

The Banking & Finance team at law firm Irwin Mitchell has advised Arbuthnot Commercial ABL on its refinancing of Anglian Home Improvements Group Limited, a UK-based suppliers and installers of windows, doors and other home improvement products.

This investment supports the growth ambitions of the business, allowing it to address current demand and future market opportunities.
 
Following a competitive process, which was managed by the debt advisory team at FRP Advisory, Arbuthnot Commercial ABL provided a highly attractive financing structure incorporating term loans and a revolving facility, covering receivables and inventory.
 
Jon Bew, Banking & Finance partner, led the team at Irwin Mitchell which acted for Arbuthnot Commercial ABL.

Peter Mottershead, Executive Chairman at Anglian Home Improvements, adds: “We are pleased to have secured this new investment in Anglian which positions the business well for future growth. The new facilities will provide additional funding capacity to help deliver the group’s excellent forward order pipeline, leveraging its well invested manufacturing capabilities in Norwich which supply market leading products to customers nationwide.”

Tom Cox, partner in the debt advisory team at FRP Advisory in London, says: “Anglian is one of the leading names in the UK home improvement market and we were delighted to work with Alchemy and the company in securing competitive working capital facilities. This will enable the business to deliver on the continued demand from domestic consumers and local authorities for the highest quality products. Arbuthnot Commercial ABL got onboard quickly with the transaction and delivered the package we were looking for.”
 
Irwin Mitchell has advised Arbuthnot Commercial ABL on a number of other deals over the last 12 months including a £12m refinancing for I&C Limited, trading under Red 7 Marine.

It also advised on the funding deal which saw Chorley-based Euxton Tile Supplies Ltd being acquired by Earle Group. Arbuthnot supported the deal with a £2m facility to provide the desired level of headroom in the transaction.