Arbuthnot Commercial ABL has reveal details of its latest deal with Pyroban, an international specialist in explosion proof equipment for hazardous environments.
This follows Arbuthnot Commercial ABL’s recent deal with Scotts & Co.
The invoice discounting facility provides flexible funding to enable Pyroban to meet the worldwide demand for explosion protection solutions for the materials handling and oil and gas industries.
Tim Hawkins (pictured), managing director of Arbuthnot Commercial ABL, said: “Pyroban provided an excellent opportunity to support a private equity‐backed business, outside of the control of a large multinational, to deliver the vital working capital required for the organisation to flourish.
“Pyroban has developed a very strong global platform for growth and we are excited to be working with SEA Equity and the team at Pyroban in this bold new chapter of their business development strategy.”
Private investment firm SEA Equity acquired Pyroban from Caterpillar, Inc. in November 2017 in an accelerated carve‐out transaction.
Jonas Rave, director at SEA Equity, added: “Arbuthnot Commercial ABL proved to be very flexible in its approach to funding international debtors. Their team moved extremely quickly, completing the deal within two weeks of agreeing heads of terms.
“The team thought through the issues together with us, were solutions‐oriented throughout and constantly worked towards our agreed outcomes.”