Arbuthnot Commercial ABL has completed its first deal since launching earlier this year. It has provided OSET Bikes Limited with a working capital facility to power its rapid business growth.
OSET Bikes Limited is a leading designer and manufacturer of electric trial, dirt, off-road and motocross motorcycles for children. Since its inception in 2004, OSET has built a presence in over 25 countries around the world and its electric bikes are recognised globally as the best beginner bikes for children to learn and improve their motorbike skills.
As a result of soaring demand and having won a substantial new order, OSET bikes had just four weeks to complete the transaction and speed of delivery was therefore imperative. Arbuthnot Commercial ABL completed the deal ahead of schedule.
Tim Hawkins, Managing Director at Arbuthnot Commercial ABL, commented: “OSET Bikes is an innovative business that is carving out its own very exciting niche. Supporting growth-oriented SMEs and mid-cap businesses is at the heart of what we do, and we are delighted to support OSET Bikes with the funding to power their ambitious growth strategy.
“We know that lasting relationships are built on trust and transparency, so we adopt a tailored approach that gets under the skin of the individual needs of the business. In this transaction, gaining a detailed understanding of the dynamics of the assets, supply-chain, processes and intra-group trading was essential to delivering the right structure and level of headroom for the business.”
Rikki Dinsmore, Group Global Managing Director of OSET Bikes Limited, said: “As a business, we don’t fit neatly into boxes and required a flexible financing structure to meet our growth ambitions. From our initial meeting it was clear to us that Arbuthnot Commercial ABL was motivated to support our business and facilitate our plans for growth.
“We are looking to double the size of the business by 2021. With so many huge opportunities for growth on the horizon and with the strength of Arbuthnot’s ongoing support, we believe that this is a conservative forecast.”