Arbuthnot Commercial ABL provides £15m growth capital to UK firm

A Kent-based manufacturer and distributor of fixings, fasteners and building consumables has secured a £15m growth capital facility from Arbuthnot Commercial Asset Based Lending (Arbuthnot Commercial ABL).

VJ Technology (VJT), headquartered in Ashford, supplies Tier 1 contractors working on major infrastructure schemes including High Speed 2 (HS2), Sizewell C and Heathrow Airport, in addition to supporting smaller construction businesses across the UK.

Arbuthnot Commercial ABL structured a comprehensive funding package comprising a confidential invoice discounting facility, an inventory revolver and a cashflow loan. The new facility is designed to support the company’s continued expansion and provide additional working capital flexibility.

The funding will enable VJT to accelerate investment in iStore, its high-growth procurement solution that provides construction sites with tailored, on-demand access to fixings, fasteners and related consumables. The system operates through a patent-approved process incorporating intelligent stock control and security technology, allowing sites to access materials 24 hours a day, seven days a week, with the aim of reducing operational downtime and associated costs.

Andrew Mobbs, chief executive of VJ Technology Group, said the lender had moved at pace while demonstrating a detailed understanding of the business and its market position. He noted that early access to senior decision-makers had helped ensure a smooth transaction and resulted in a flexible financing solution tailored to the company’s requirements on competitive terms. He added that the group looked forward to working with its new funding partner to support future growth.

Fellwood Advisory advised VJ Technology on the transaction.