Arbuthnot Commercial Asset Based Lending (ACABL) has completed a £4m growth finance package for Masterfix GB Limited.
The transaction included an increased receivables facility to generate additional headroom supporting growth, and a Recovery Loan Scheme facility to replace the company’s existing Coronavirus Business Interruption Loan.
Andrew Rutherford, commercial director at ACABL, said: “This transaction reflects our belief in the strength of the management team and business plans at Masterfix, a company which is poised for significant expansion.
“It has been a pleasure working with James and the team with whom we have a great rapport, and we very much look forward to supporting the next phase of their growth aspirations and acquisitions strategy.”
Established in 2009, Masterfix is a London-based property maintenance business, specialising in providing services to residential and commercial managing agents, landlords & freeholders, retailers, hospitality providers, insurers, and policyholders.
The company’s services range from 24-hour callouts and minor building works to major remedial works for insurers covering subsidence, fire, and water damage.
James Peers, finance director at Masterfix, added: “I joined the business in January, and the first thing I noticed was that the company’s working capital requirement was going to surpass the facility it was carrying.
“We invited several lenders to take part in a competitive process and Arbuthnot Commercial ABL came out on top.
“They have been very straightforward and responsive, and their portal gives us excellent management information.
“Their team structured a bespoke facility that will provide us with the flexibility to take the business from £13m to £25m turnover by 2025.
“In addition to driving organic growth, we are now looking to make complementary acquisitions.
“With their knowledge of the business and their ability to provide tailored funding solutions, we believe that Arbuthnot’s team is best placed to support us as a long-term partner.”
