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26 May, 2022 - 16:50 By Tony Quested

Milbank Ventures secures £12.6m funding deal

Essex-based private investment group, Milbank Ventures, is to fuel its future growth via a new funding deal facilitated by FRP Corporate Finance.

Colchester-headquartered Milbank, which comprises a portfolio of eight businesses operating across a diverse range of markets, has secured a new £12.6 million facility from asset-based lending specialist Arbuthnot Commercial ABL. 

The deal, led by FRP Corporate Finance partner Chris Adlam, will drive further growth for the group as it continues to pursue both organic and acquisitive opportunities.

Family-owned Milbank, which traces its roots back to the 1820s, owns businesses in a range of different sectors including construction, agriculture, retail and marketing and currently employs more than 300 people across its portfolio.

During 2021, the £50m turnover group made three acquisitions, including agricultural film manufacturer Silostop, digital marketing agency Xanthos and Nicola Jane – the UK’s leading mastectomy and post-surgery wear specialists.

Building on an existing relationship and recognising the Debt Advisory team’s knowledge of the current lending market, Milbank approached FRP to help find the most suitable long term funding partner for the Group.

Chris Adlam said: “Milbank has a successful track record of investing in its portfolio businesses to deliver steady and sustainable growth. This refinancing will provide greater flexibility for it to continue expanding through acquisition, whilst sustaining the growing working capital needs of its portfolio. 

“As the economy continues to evolve, asset-based lending has become an increasingly attractive route to growth and we would expect to see more deals of this nature in the months and years to come.”

Birketts and Mills & Reeve acted as legal advisers.

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