Arbuthnot Commercial ABL completes £1.6m refinance deal with Dexam International
Dexam International Ltd has secured a £1.6m asset-based lending facility from Arbuthnot Commercial Asset Based Lending (ABL) to support its future growth plans and drive further operational efficiencies. The flexible funding package comprised a £1.1m confidential invoice discounting line and a £500,000 revolving stock facility.
Dexam International is a family run company that has been a distributor of quality cookware and kitchenware to UK retailers, as well as export markets, for over 60 years. Headquartered in West Sussex, the business imports cookware products from over 25 countries and exports them all over the world. Whilst promoting its own brands, ‘Dexam’ and ‘Rushbrookes’, Dexam International is also the UK distributor for brands such as ‘Chef’s Choice’, ‘Chasseur’, ‘Sistema’, ‘Mighty Mug’ and holds licences for Scion, Morris & Co and School of Wok.
When their previous funding providers advised them that their lending policy no longer supported the provision of stock finance, Dexam International sought to find a supportive lender who would be able to provide them with a larger facility to satisfy the future plans of the business, as well as a dedicated service. They arranged to meet with their corporate finance advisers, who introduced them to Arbuthnot Commercial ABL.
Bryony Dyer, Managing Director of Dexam International Ltd said: “Arbuthnot Commercial ABL has proved to be a very good fit for our business. Their team delivered the increased levels of funding that we needed to achieve our growth plans and at every stage it always felt like we were having a dialogue with people who could make decisions, without hiding behind a credit team. In the short-term, the additional funding from Arbuthnot will enable us to re-organise our warehouse thereby driving efficiencies. This is just the start of our planned new developments.”