Arbuthnot Commercial ABL has provided a flexible £8m receivables finance facility to support the refinancing of MAN Commercial Protection, a West-Midlands based security services provider.
The business, which operates from Solihull, said it had recently won two international security contracts from global organisations, and that the refinancing from Arbuthnot Commercial ABL would be used to drive business growth.
MAN Commercial Protection provides corporate security services, such as man guarding and mobile security officers, key holding and alarm response, and CCTV monitoring.
Established in 1993, initially focused on high profile music and sporting events, the business has grown to become one of the top 20 security companies in the UK and remains privately owned.
Iain McCallister, managing director, MAN Commercial Protection, said: “Arbuthnot Commercial ABL has a real appetite to understand our needs. I have known the team for almost 10 years and have complete trust in the team’s ability to deliver every time. In our business, we have to deliver on service 100 percent and it is very refreshing to receive the same commitment.
“Working with Arbuthnot Commercial ABL has given us the opportunity to focus on what we do best. The facility that they have structured based on our growing debtor book gives us the headroom we need to continue to win more work at a faster pace, without the distraction of further facility renegotiation. With Arbuthnot’s support, the future for MAN Commercial Protection is very exciting.”
Last month, Arbuthnot Commercial ABL structured a £10.7m facility for Anglian Windows, a UK-based producer and supplier of products such as windows and conservatories.
The comprehensive all-asset facility is designed to generate maximum availability by funding Anglian’s trade receivables (both invoiced and unbilled elements), bespoke inventory, specialist plant & machinery and commercial property.