Arbuthnot Commercial Asset Based Lending has provided a £5.92 million asset-based lending facility to support Nova Capital Management’s acquisition of Shakespeare Monofilament UK, forming part of Nova’s wider purchase of the Shakespeare businesses in the UK and United States.
The transaction brings together several forms of secured financing, reflecting the range of assets available within Shakespeare Monofilament UK and the funding requirements associated with a change of ownership. The package comprises £2.5 million of confidential invoice discounting, a £1.5 million inventory revolver, £222,000 secured against plant and machinery, and a £1.7 million property term loan.
This diversified funding structure reduces reliance on a single source of borrowing and gives the acquired business access to capital across different parts of its asset base. Receivables and inventory provide working capital support, while the machinery and property elements introduce longer-term funding against fixed assets. The combination is designed to provide greater flexibility as the company enters its next phase under Nova Capital Management.
Shakespeare Monofilament UK is based in Fleetwood, Lancashire, and traces its history to 1897. The manufacturer operates across three principal product areas covering performance monofilaments, engineered nylons, and conductive fibres, polymers and filaments. Its manufacturing focus places the business within specialist engineered materials markets where production assets, inventory requirements and customer receivables can all play an important role in determining the most appropriate financing structure.
The £5.92 million facility is also the first transaction between Arbuthnot Commercial Asset Based Lending and Nova Capital Management. Its significance extends beyond the establishment of a new lending relationship, as the UK acquisition formed part of a broader cross-border transaction involving the simultaneous purchase of Shakespeare Company in the United States.
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.
