Arbuthnot Commercial ABL structures £4m funding deal to propel marine supplier’s future growth
Arbuthnot Commercial ABL has structured a comprehensive £4m growth funding package for Simplex-Turbulo Limited, the core trading entity within the SLX Group.
The flexible refinancing arrangement combines confidential invoice discounting, an inventory loan, and a revolving credit line, providing significant additional working capital to support the company’s ambitious expansion plans.
Founded in 1935, the SLX Group is a well-established supplier of marine equipment and engine spares, serving customers worldwide. Headquartered in Andover, Hampshire, the company has cultivated a strong reputation for offering high-quality products at competitive prices throughout its nearly 90-year history. To support its European operations, SLX Group maintains a German subsidiary, STW Engineering GmbH, which serves as a strategic logistics hub. Their customers include shipyards, offshore service vessels, and cruise and ferry operators across territories including North and South Amercia, Europe, Middle East and Asia Pacific.
Marcus Poole, Finance Director at SLX Group, said:
“The main driver has always been getting our stock into mainland Europe. Our previous funders could not finance the level of stock held outside the UK, which was problematic as 90% of our stock is in Europe. Within days, the team at Arbuthnot came to see us and wanted to learn more about our business. They were refreshingly pragmatic and commercially minded and prepared to take a holistic view, structuring a combination of facilities to provide a higher quantum than we had previously. The speed and smoothness of the refinancing process was impressive, especially compared to our previous experience. As an ambitious management team committed to growth, this funding allows us to hold the right stock in the right locations. Arbuthnot consistently looks at the bigger picture, enhancing our ability to conduct business. They have made it clear that they are open to discussing any promising opportunities that may arise in the future, including acquisitions.”
Andrew Rutherford, Commercial Director at Arbuthnot Commercial ABL, said:
“We were delighted to work with SLX Group to fund the transaction for Simplex-Turbulo. This deal presented us with the opportunity to support a strong trading business led by a committed and highly experienced senior management team. The funding package we structured provides the company with the headroom for working capital support as it continues to grow while allowing it to move inventory to Germany without losing access to liquidity. This flexibility enables Simplex-Turbulo to efficiently fund its working capital cycle, leading to increased profitability, particularly in light of the Brexit-related regulatory costs faced by the group.”
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