Arbuthnot Commercial Asset Based Lending (ACABL) has appointed Chris Webb as the new director of business development for the Midlands and south-west UK.
With his background in financial services and asset-based lending (ABL), Webb will be responsible for the company’s regional expansion efforts.
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His career includes key roles at Barclays, Santander, ThinCats, and Investec, where he was mainly responsible for structuring ABL transactions and driving business growth.
Arbuthnot Commercial’s commercial director Andrew Rutherford said: “Chris’s extensive expertise, network and track record in the finance industry, particularly in structuring flexible and bespoke funding solutions, will be invaluable in driving further growth.
“We look forward to working with him to expand our regional presence and build on our key business introducer relationships.”
Webb commented: “The highly experienced and enthusiastic team, combined with the business culture, strong market position, commercial appetite and growth aspirations, were all compelling factors in my decision to join Arbuthnot Commercial ABL.
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By GlobalData“Its reputation for structuring tailored ABL solutions that provide clients with the speed and certainty to grow is well known in the market and fits perfectly with my ethos.”
Earlier this month, ACABL completed a £2.25m facility to support Emerge Global’s investment in Speed Welshpool, providing additional working capital to help the freight and haulage business expand.
The facility, which combines receivables financing with term loans, has increased Emerge Global’s total facilities to £6.65m.
Last month, ACABL facilitated a £2m funding package for Threesixty Investments to acquire Cooper Drainage Supplies during a retirement sale.
It marked the fourth transaction that ACABL has funded for the investment group, following the acquisitions of Summit Engineering, Pen Cutting Tools, and Technocover.
The funding package not only supported the acquisition but also included a combination of receivables financing and a cash flow loan to boost working capital.
