Arbuthnot Commercial ABL, the specialist asset based lending arm of Arbuthnot Latham, has completed a £2m asset based lending (ABL) transaction in support of the strategic acquisition of Circum Ltd, a fire protection services specialist, by EA-RS Fire Engineering Ltd. (“EA-RS”). The facility comprises a flexible confidential invoice discounting line and a term loan.
EA-RS, is a leading regional specialist in fire detection, alarm, gas suppression and electrical services. For over 20 years the business has provided support to the UK’s construction and facilities maintenance sectors and blue-chip corporate clients, whilst developing manufacturing partnerships which drive long term stability and maximum operability.
The acquisition has enabled EA-RS to become a certified provider of sprinklers; a product which they are often asked to deliver as part of a total fire safety solution.
Mark Wheeler, Managing Director of EA-RS Fire Engineering Ltd, said: “It was only when we discussed the acquisition with Arbuthnot Commercial ABL that we got traction on the deal. As a team they are phenomenal to work with, offering an entirely different experience to that of other providers we have worked with in the past. Their team sought an in depth understanding of our business and what we wanted to achieve, while ensuring we arrived at a pragmatic solution that worked well for both parties. This is very much the beginning for our business. We look forward to making further acquisitions as we further our geographic expansion and product offering.”