Arbuthnot Commercial ABL -
A client success story: Stacatruc
Our Client Success Stories illustrate the remarkable journeys of outstanding businesses that we have been honoured to assist, emphasising their beginnings, development, and the ways in which our support has facilitated the realisation of their goals.
From strategic acquisitions to successful exit
Our Client Success Stories illustrate the remarkable journeys of outstanding businesses that we have been honoured to assist, emphasising their beginnings, development, and the ways in which our support has facilitated the realisation of their goals.
Stacatruc’s story is a compelling testament to the power of strategic vision and flexible financing, charting their course from a series of acquisitions to a highly successful exit via a Management Buyout (MBO) that positions the company for its next exciting growth phase.
With over 40 years of experience and located in Thatcham, Berkshire, Stacatruc specialises in forklift rental, sales, maintenance, and financing. The company handles both new and pre-owned machinery, providing equipment and engineering support across the nation. Currently, it is Europe’s largest supplier of forklifts from the renowned global manufacturer, Clark.
Elevating ambitions - The Arbuthnot partnership begins
In June 2021, Stacatruc entered a promising new phase when Merino Capital, under the leadership of Investment Director Ben Reavley, identified its considerable growth potential. A pivotal meeting with Arbuthnot Commercial Asset Based Lending laid the groundwork for Stacatruc’s swift expansion.
Following a comprehensive evaluation of the business and its growth strategy, Arbuthnot Commercial Asset Based Lending developed a customised working capital solution. This tailored facility aimed to achieve two key goals: to support the initial acquisition and to drive the company’s ambitious growth initiatives.
Upon finalising the transaction, Ben Reavley remarked:
“The new facility provided by Arbuthnot Commercial ABL will generate significant additional headroom enabling Stacatruc to make further investments in stock and CapEx, in addition to growing the service team. The future for the business is exciting, aligned with the structural trends surrounding e-commerce and the expansion in warehousing in the UK.”
Arbuthnot’s flexible approach and targeted strategy were essential throughout the dynamic deal process. Ben Reavley noted:
“This was the first time I have worked with Arbuthnot Commercial ABL on a transaction, and it was a very positive experience. There were quite a few challenges that cropped up along the way and Arbuthnot’s team was very nimble, involving credit at an early stage and resolving issues quickly as the circumstances evolved.”
Momentum builds - continued expansion and support
In August 2022, Stacatruc reached another important milestone in its buy-and-build strategy. With the backing of Arbuthnot Commercial ABL, the company successfully acquired Knightsbridge Mechanical Handling, a little more than a year following its initial acquisition. This strategic decision allowed Stacatruc to enhance its fleet of hire trucks and broaden its presence in the North West of England.
Ben Reavley continued:
“This was an excellent step forward for the group. Once again, the team at Arbuthnot Commercial ABL was very easy to work with and supportive throughout the transaction. Their team continued to support the growth potential of the group, and we were delighted to partner with them again.”
Stacatruc’s growth momentum extended into 2024 with the acquisition of Blandford Forklifts in June, establishing a new depot in Dorchester and extending the group’s presence to the South West.
Successful exit and future growth
While this transaction was being concluded, the business was already finalising a private equity-sponsored management buyout. The company is set to drive further growth, expand its geographical footprint, and build upon its strong track record.
Reflecting on the journey, Ben Reavley stated:
“Our journey with Arbuthnot in growing Stacatruc has been incredible. We’ve built Stacatruc into one of the UK’s leading independent forklift dealers. With a buy-and-build strategy, things don’t always go to plan, but having a nimble bank like Arbuthnot means we can adapt to new opportunities as they arise, even if they weren’t on our original timeline. We’ve not only realised our investment but also found the perfect platform to take the business on in its next stage of growth.”
He added:
“Arbuthnot’s team supported us in completing the latest bolt-on acquisition even while we were in the midst of selling the business. Their open communication and willingness to support our vision were key factors in achieving a positive outcome for all involved. We’re proud of the business we’ve built through both strategic acquisitions and organic growth, and we’re confident in Stacatruc’s future potential. Arbuthnot has proved to be very commercial and nimble, and we’ve developed a great personal relationship with them. We’re keen to do a lot more work together in the future.”
Andrew Rutherford, Commercial Director at Arbuthnot Commercial ABL, commented:
“This success story reminds us of why we do what we do; it’s about understanding the unique needs of each client and crafting strategies that turn their visions into reality. Stacatruc’s dynamic growth trajectory demonstrates the power of a well-executed buy-and-build strategy. Our partnership with Merino Capital and Stacatruc’s management team has enabled them to drive exceptional growth through strategic acquisitions and flexible working capital support, culminating in the successful MBO. This highlights how strategic vision, adaptable financing, and strong partnerships can create significant value. We’re proud of our role in this journey and look forward to working with Merino Capital on future transactions.”
At Arbuthnot Commercial Asset Based Lending, we provide relationship-driven asset-based lending solutions that offer the speed, level of funding, support and certainty to help SMEs and mid-market corporates thrive. Contact us today to find out more.
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