- Asset Alliance Group secure ABL deal worth £75 million to support growth
- Syndicate led by Royal Bank of Scotland's ABL team
Asset Alliance Group (AAG) is a commercial vehicle finance provider and retailer of new and used trucks and trailers. It serves a wide range of clients from UK plcs to SME fleet-owners. Since forming in 2011, AAG has gone from strength to strength, increasing its share in both the UK commercial vehicle finance and truck and trailer markets. The group is gearing up for further growth in 2016, both organically and through targeted acquisition. It has recently expanded into buses and coaches after acquiring Hampshire-based Forest Asset Finance, a specialist broker in this sector. AAG employs over 80 members of staff across its two offices in Wolverhampton and Lanarkshire.
Funding is being led by Royal Bank of Scotland’s Asset Based Lending team which has structured an innovative £75 million revolving ABL facility that allows AAG to support its future capital expenditure and invest in their significant growth ambitions. The ABL facility is structured against the company’s considerable portfolio of vehicle assets. Ernst & Young’s Manchester-based Capital & Debt Advisory team led by Jashen Josson supported the transaction throughout the process.
Willie Paterson, Asset Alliance Group CEO
"Our approach is unique because we don’t just lend and provide a range of flexible finance packages, we purchase, refinance and procure for our clients. This approach is proving popular and as a result we are now one of the fastest growing companies in our sector. By adding bus and coach finance to our services we can widen our client base and our portfolio of products and services. This ABL funding is helping to support our future growth strategy and diversification into new sectors."
Matt Broomfield, Business Development Director for Royal Bank of Scotland Asset Based Lending in the Midlands:
"I am delighted that we have been able to support AAG and its hugely experienced management team with this significant ABL facility. The company has achieved impressive growth during the last five years and provision of this revolving facility will allow further development of their successful growth plans."
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