Arbuthnot Commercial Asset Based Lending, a specialist asset-based lender for SMEs and lower mid-market corporates, has appointment Josh Thorneycroft as business development director for the Thames Valley and London region, the lender said in a statement.
Arbuthnot Commercial ABL has seen strong growth in recent years. In 2020 the value of facilities increased by 70% and the number of clients increased by 60%.
In October 2020, 28 months after its launch, the firm reached its £200m lending milestone.
In his new role, Thorneycroft will help to drive the business’ ambitious growth plans across the region.
He will also manage and strengthen client relationships through private equity-backed acquisitions, corporate carve-outs, management buy-outs (MBOs), management buy-ins (MBIs) and refinancing.
He will be based in Arbuthnot Latham’s London office.
Thorneycroft brings a wealth of experience from across financial services, with a focus on business development. Before joining Arbuthnot Commercial ABL, Thorneycroft held several roles at Mazars, across the company’s M&A and debt advisory practices. He is also a qualified ICAEW accountant.
Andrew Rutherford, commercial director, Arbuthnot Commercial ABL, said: “The past year has been challenging for many, but the ABL market has brought a much-needed financing option to many businesses. High-quality customer service and efficiency drives everything we do; we look forward to working alongside Josh as we provide reliable and trusted ABL solutions to more businesses across the UK.”
Josh Thorneycroft, said: “I’m delighted to be joining the Arbuthnot Commercial ABL team, working across the Thames Valley and London region. It’s a really exciting time for the asset-based lending market and Andrew and the team have a fantastic track record. I look forward to bringing my expertise and relationships to the role, delivering best in class results as we continue to fuel the growth of small and medium-sized enterprises and mid-market corporates.”
In December we reported:
Asset Alliance Group, a UK provider of commercial vehicle leasing, has announced its intention to sell its shareholding to Arbuthnot Latham and Co.