Asset-based lending -
Arbuthnot Commercial ABL welcomes premier new build contractor ‘home’ with flexible funding package
Arbuthnot Commercial Asset Based Lending (ACABL) has delivered a bespoke working capital refinancing facility for AJ Moran Ltd.
Arbuthnot Commercial Asset Based Lending (ACABL) has delivered a bespoke working capital refinancing facility for AJ Moran Ltd, a leading regional dry lining and plastering contractor serving Thames Valley’s burgeoning new build housing sector. Established over 50 years ago, and headquartered in Pangbourne near Reading, AJ Moran offers a comprehensive range of services, including metal fixing, tacking, screeding, rendering, dry lining, and plastering.
Despite AJ Moran’s longstanding profitability and prudent financial management, the company faced an unexpected challenge when its incumbent bank announced its withdrawal from the construction sector. Promptly looking to secure new financing, AJ Moran’s management drew on their strong and established relationship with Arbuthnot Commercial ABL’s senior team. ACABL responded swiftly, delivering a tailored receivables finance solution that met the company’s specific requirements and timelines.
Peter Melton, Managing Director, A J Moran Limited, said:
“Our engagement with Arbuthnot mirrored our initial interaction with their senior team. They took the time to thoroughly discuss our business and presented us with an offer within a few days. While we had not utilised a significant portion of our prior facility, having that safety net is always beneficial. Arbuthnot provides direct access to senior decision-makers, which is a notable improvement compared to our former bank. In our sector, cultivating relationships with key individuals is essential. With the backing of Arbuthnot, we are optimistic about what lies ahead. Market confidence is improving, we are managing our cost structure effectively, and we have built strong connections with our distributors.”
Andrew Rutherford, Commercial Director at Arbuthnot Commercial Asset Based Lending Limited, stated:
“We are thrilled to welcome the return of AJ Moran to our portfolio. Our enduring partnership with the management team has allowed us to create a customised receivables finance solution that meets their unique requirements within the necessary timeframe. This refinancing arrangement underscores our dedication to assisting established enterprises in the construction sector with prompt and reliable support, particularly as some other financiers withdraw from the market. We anticipate contributing to AJ Moran’s ongoing success during this promising period for the new build housing industry.”
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Gatwick Office: The Beehive, City Place, Gatwick, RH6 0PA
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.
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