Arbuthnot Commercial Asset Based Lending Ltd. (Arbuthnot Commercial ABL) is pleased to announce that it has provided the asset‐based lending facility to support the management buyout (MBO) of Ken Lamacraft Marketing Limited (KLM). The transaction was introduced to Arbuthnot Commercial ABL by Castle Corporate Finance.
The facility includes a receivables finance line and a cashflow loan, providing the day‐one share purchase consideration, as well as ongoing working capital required to facilitate further growth.
The MBO deal sees Australian Bodycare U.K. Limited’s (ABC) Fiona Peerless and Kevin Gambrill, now joint MDs, acquire 100% of the shares in the group for an undisclosed sum. Both have vast experience of the company, its strengths and its strategy, ensuring a smooth management transition.
Founded by husband and wife Ken and Margaret Lamacraft in 1995, and headquartered in Tunbridge (Wells, Kent), the Group specialises in beauty products for the salon and retail sectors of the cosmetic market in the UK and Ireland. Brands include Australian Bodycare, Covermark and Steamcream. Key markets for the business are the major TV shopping channels, professional therapists, salons and spas, online retailers, pharmacies and High Street retailers.