Refinancing of Precision Technologies
HMT LLP advised Arbuthnot on the refinancing of specialist precision component manufacturer Precision Technologies Ltd. Arbuthnot provided a cash flow loan and receivables financing facility to Precision Technologies.
Based in Tamworth, Precision Technologies is a high precision engineering company specialising in the manufacture of gears, gauges and splines which are used in the most demanding and high profile industries such as aerospace, healthcare, oil and gas, motorsport and automotive.
Precision Technologies’ Engineers use the latest technologies in CAD/CAM, encompassing 2D vector based drafting and 3D parametric surface and solid modelling to produce high quality equipment.
Arbuthnot provided the cash flow loan and receivables financing facility to support the growth of the business.
HMT led by Partner Paul Read and Executive Andrew Reid undertook financial due diligence for Arbuthnot on this transaction.
James Marler, Director, Business Development at Arbuthnot Commercial ABL, commented:
“It was a pleasure to work with HMT in developing a facility to meet Precision Technologies’ ambitions for growth. HMT has a similar ethos to our own in focusing on building deeper relationships, not just executing transactions. They provided real clarity to the client, enabling them to make informed decisions and worked closely with all parties to ensure an effective outcome.”
Paul Read commented:
“We are delighted to have advised Arbuthnot on the refinancing of Precision Technologies. The business is clearly an expert in their field and Arbuthnot’s facility will support further growth opportunities. We look forward to working with Arbuthnot again in the future.”
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