ACL Engineering Limited has completed a management buyout, giving Finance Director Steven Smithard and his wife Kate ownership of the compressed air specialist as the founder and majority shareholder retires.
This is not a takeover by an outside buyer. Ownership is moving to people already involved in the business, with direct knowledge of its finances, customers and operations. That lowers transition risk and gives ACL a clearer route into its next phase.
The deal was backed by a funding package from Arbuthnot Commercial ABL, including invoice discounting, a cash flow loan and a Growth Guarantee Scheme loan. The structure gave the buyers the capital needed to complete the acquisition while also supporting working capital. Management buyouts can put pressure on liquidity if they are not properly funded.
ACL has operated from Watford for more than 45 years. It designs, supplies, installs and maintains compressed air systems for customers across London, Buckinghamshire, Essex, Hertfordshire, Middlesex, Oxfordshire, Surrey and Sussex. Its customers operate in sectors including manufacturing, healthcare, automotive and food processing.
Compressed air systems are important to many industrial and commercial operations. When they fail, production and service delivery can be affected. That gives specialist maintenance providers such as ACL a practical role in keeping customer sites running. It also supports demand for engineering expertise, fast response and long-term service relationships.
Arbuthnot Banking Group PLC (LON:ARBB), operating as Arbuthnot Latham, offers private and commercial banking products and services in the United Kingdom. Established in 1833, Arbuthnot Banking is headquartered in London, United Kingdom.
