Arbuthnot Commercial ABL supports Longacre’s acquisition of Inspec Solutions
Arbuthnot Commercial ABL has provided a combined accounts receivable and cashflow lending facility to support Longacre Group’s acquisition of Inspec Solutions Limited (Inspec), increasing the group’s facilities to £12.1m.
As a result of this transaction, Inspec will join Longacre’s iDESo Group, which includes Baldwin & Francis, Allenwest and Igranic.
Founded in 2000 and headquartered in Sheffield, Inspec is a highly innovative, independent systems integrator that develops control, safety, automation and OT/IT software solutions for industries including food and beverage, energy, upstream and downstream oil and gas, metals, national infrastructure and manufacturing. Inspec is the UK’s leading specialist in LV/MV switchgear and integrated power solutions.
Elliott Nicholson, Managing Director at Longacre Group, who led the transaction, said::
"Inspec is one of only a few independent system integrators in the UK, an excellent addition to the iDESo Group and highly complementary to the existing switchgear businesses. One of the reasons why we like working with the team at Arbuthnot Commercial ABL in particular is the speed of delivery that they bring to transactions. Arbuthnot has been very supportive of our acquisition strategy and is consequently expanding its facilities across the group."
Andrew Rutherford, Commercial Director at Arbuthnot Commercial ABL, said:
“We were very pleased to support both the sponsor and the client with this deal. It is always very satisfying to support existing clients with their acquisition plans, especially where there are such clear synergies. Delivering acquisition funding solutions demands a multi-faceted approach requiring a complete focus on pace and certainty of deal execution, while also considering the objectives of all of the stakeholders involved.”
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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.