Arbuthnot Commercial ABL completes £1.5m refinance deal with Energys Group Limited

Energy & Low Carbon Industry | Financial Services | Funding | South East

West Sussex-based Energys Group Limited (Energys) has secured a £1.5m confidential invoice discounting facility from Arbuthnot Commercial Asset Based Lending (ABL) to generate additional liquidity to fund future growth, ultimately helping more businesses to reduce energy usage and increase efficiency.

The new revolving funding line takes into account staged invoices within the borrowing base, which were excluded by the company’s previous funders.

Energys, which was originally founded as an energy consultancy firm in the late 90s, has now developed into a full-service energy solutions business with its own manufacturing capability in Hong Kong and has become the UK’s largest provider of LED lighting solutions. Since 2004, Energys has supplied and installed over 400,000 fittings, leading to £35m in cost savings for its clients and a CO2 reduction of 135m kg.

Energys’ customer base includes the NHS, Ministry of Defence, BT, Ford, Tata, Unilever, Welsh Water and Western Power Distribution. The business also works closely with some of the UK’s most carbon-conscious local authorities and metropolitan councils.

Throughout the Covid-19 crisis, the business has continued to deliver and install products. Its staff have been identified as key workers and the team has spent time in schools and hospitals carrying out essential maintenance work such as lighting system replacements.

Kevin Cox, Managing Director, Energys Group Limited, commented: “Our advisers informed us that Arbuthnot Commercial ABL would be the perfect fit for our business and we are delighted that our experience with them confirms this completely. Immediately, everything about working with Arbuthnot felt very different compared to our previous lenders. You really get the sense that their team genuinely wants to collaborate with you.

“They looked at us as an individual business, not one of a hundred thousand companies. The level of engagement, the speed of response, the involvement of their credit team at an early stage and the desire to take the time to understand our business and payment cycle really stood out. I can reach Arbuthnot’s credit team at any time and I simply could not have done that with a high street provider. The fact that Arbuthnot knew our business and we knew them, gave us confidence that the deal would not be derailed. With the certainty of working capital funding in place, we can now focus on playing our part in helping the UK Government and British industry to meet their carbon reduction targets.”

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