Arbuthnot Commercial ABL supports long term client with £2.5m facility in building his next plant hire success.
Arbuthnot Commercial Asset Based Lending (ACABL) has delivered a £2.5m facility to support the management buyout of plant hire, parts and sales specialists, AT Wilde & Son and Wildes Plant Hire.
The businesses have been acquired by long-term Arbuthnot client, Peter Venn, formerly Managing Director of success story Stacatruc.
The new facility, comprising of a £500,000 receivables finance facility and a £2m plant and machinery loan facility, supports both the acquisition of the businesses and delivers the headroom for expansive future growth plans.
A T Wilde & Son Ltd (ATW) is a family-run business founded in 1937 by Alfred Thomas Wilde. The company started as a blacksmith shop and then expanded into supplying Lister Petter engines & gensets. Today, ATW supplies parts & engines for all the leading manufacturers, also working closely with its sister company, Wildes Plant Hire Ltd, established in 1964. The businesses offer a full range of machines, parts, and hire services to the agricultural, construction and plant hire sectors across Shropshire.
The third generation of the family, having successfully guided the business to significant achievements, has decided to sell. Peter Venn, a long-standing client of Arbuthnot and a successful entrepreneur in the plant hire industry, has acquired both businesses. As the former Managing Director of Berkshire-based Stacatruc, which was a notable success story for Arbuthnot, Peter orchestrated a remarkable growth trajectory for the company through multiple acquisitions, ultimately leading to a successful exit via a Management Buyout (MBO).
Peter Venn, Managing Director of A T Wilde & Son and Wildes Plant Hire, said:
“I am delighted to be working with the team at Arbuthnot again. Their sector insight has shone through in designing a facility tailored precisely to our needs. My experience of the team means I know that they will be easy to work with. Their commercialism will always be at the fore in supporting us in maximising the opportunities our expansive plans have in store for us.”
Andrew Rutherford, Commercial Director at Arbuthnot Commercial Asset Based Lending Limited, stated:
“It is a genuine pleasure to be working with Peter again and to support him with his new business. We never take our clients for granted and so we are extremely proud to be approached again. We are delighted to be able to demonstrate why we are the best provider for the exciting and expansive journey we know Peter will be taking AT Wilde & Son and Wildes Plant Hire on.”
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Registered in England and Wales no. 10915339. Arbuthnot Commercial Asset Based Lending Limited’s registered office is Arbuthnot House, 7 Wilson Street, London, EC2M 2SN. Arbuthnot Commercial Asset Based Lending is not authorised and regulated by the Financial Conduct Authority.
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