Amcomri Group and Arbuthnot Commercial Asset Based Lending have confirmed a £5.23m facility to assist with the acquisition and future growth of JA Harrison, a world-class manufacturer and supplier of gaskets, seals and o-rings.
The new facility, comprising facilities in respect of real estate, machinery and receivables has been structured in order to provide working capital to support the planned growth of the business post-acquisition.
Mark O’Neill, Investment Director at Amcomri Group, said “J A Harrison is a well-invested and well-run business that fits well into our specialist engineering division. We have a particular focus on retirement acquisitions and could see an excellent opportunity to buy a business with a strong management team in a sector we know well. We are delighted that Keith Shepherd has decided to remain with the business both as a Director and a minority investor, and we look forward to working with him to continue the success the business has enjoyed over many years. We have a strong relationship with Arbuthnot Commercial ABL who were the ideal choice of partner to fund the acquisition and provide supportive, on-going working capital following the completion of the deal.”
Andrew Rutherford, Commercial Director at Arbuthnot Commercial ABL commented, “We were delighted to support Amcomri with this important strategic acquisition. With an established team, state-of-the-art manufacturing facilities and a loyal customer base, and now with funding aligned with its ambitions, J A Harrison is ideally placed for strong growth. We are proud to support the business through the next stage of their success story with an all-asset funding package structured to enable and encourage continued expansion.”
