“Able Tooling designs and manufactures precision tooling for a variety of sectors, including automotive, medical, food and aerospace,” says Simon Parker, regional manager for Close Brothers Asset Finance - manufacturing division. “The company has been trading for nearly 30 years and is very well-run with a range of high-value machine tools. This allowed us to offer a re-finance deal using equity in the machinery to part-fund the acquisition of the business.”
Lewthwaite adds: “We are delighted to have the opportunity to take this established and well-respected toolmaking business to the next level, with the help of our partners, including Close Brothers Asset Finance. We have a team of skilled and dedicated toolmakers, and some excellent machinery of which we can take advantage in our quest to double turnover.”
Says Brazil: “We have always enjoyed a strong order book at Able Tooling, and thankfully neither Brexit nor the downturn in the automotive sector have impacted us. We are fortunate to have a diverse customer base across a broad range of sectors.”
