- Deal supports the acquisition of Hepworth Clay by 4D Capital Partners
Metro Bank has completed a £19.725m, comprehensive asset-based lending deal with Hepworth Clay and its new owners 4D Capital Partners LLP. The package includes Invoice Finance, Stock Finance and a Plant & Machinery Term Loan, alongside ongoing working capital facilities.
Hepworth Clay is the UK’s sole manufacturer of vitrified clay pipes and associated fittings used in drainage systems. Hepworth Clay also manufactures terracotta products for construction, including flue and chimney systems. The business operates in the Midlands, sourcing material from its own quarries.
Alan Austin, Head of Asset Based Lending at Metro Bank added “We are delighted to provide this bespoke Asset Based Lending package to Hepworth Clay, and its new owners 4D Capital Partners. We worked closely with all parties to enable this transaction and our ongoing support will see this essential manufacturing business continue to support its local Midlands economy. I look forward to working with Hepworth Clay on future financing opportunities as it continues to scale and grow.”
Alex Silk, Founder 4D Capital Partners LLP commented “We are delighted to be partnering with Metro Bank, who have provided a significant funding package that will help us to turbocharge the growth of Hepworth. From the outset, Metro Bank understood the business and were very commercial in their approach to the transaction.”
Scott Peters, Managing Director Corporate Finance Quantuma said “It was fantastic to see so many Midlands-based advisors working on this transaction. Hepworth is an important Midlands asset and it’s very rewarding to bring it back into the local ownership of 4D Capital. The Metro Bank team were excellent and put in place a very flexible structure for a complex deal. It's great to see innovative funders coming into the market and making a difference. The complexity of this was a great demonstration of Quantuma’s capabilities to advise in this space.”
4D Capital was advised by Quantuma, K3 Tax, Shoosmiths, Dickson Minto, K3 Advantage, and Ford Campbell Freedman. Metro Bank was advised by Mills & Reeve, European Valuations and Silkstone Environmental.