ABN AMRO Commercial Finance has partnered with investment company, Owner Venture Managers Limited, to support the acquisition of Lada Engineering Services Ltd.
Based in Basingstoke and established in 1984, Lada Engineering Services Ltd, offer CNC Precision Machining and Sheetmetal Engineering services to a broad range of industrial sectors. Following the founders’ decision to retire and the subsequent marketing of the opportunity, Owner Venture Managers turned to ABN AMRO Commercial Finance to create a funding platform to support the remaining management team.
Having worked with ABN AMRO Commercial Finance in the past, the investors understood that a flexible, progressive approach to support the transaction would result from early engagement. A flexible finance package was secured, consisting of a £1.2m Receivables Funding Line and a £500k Enterprise Finance Guarantee Loan, enabling the acquisition and providing essential headroom for growth.
James Wooster, Director at Owner Venture Managers, said: “ABN AMRO Commercial Finance was able to provide a fast and flexible funding solution, which will enable Lada Engineering Services Ltd. to enhance its specialist engineering services offering and expand its growth. As part of that plan we are seeking other suitable acquisition opportunities. “
Kelvin Thomas, Regional Director, Wales & West of ABN AMRO Commercial Finance said, “Our broad depth of experience in leveraged transactions allows us to fully understand the individual challenges of our clients and create suitable funding solutions. In this case, we were able to listen and react quickly and confidently to Lada’s needs, and so were able to provide a solution that would not only add value to the business but will also enable future business aspirations as a sustainable partner for growth.”