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FRP Corporate Finance has advised battery power specialist Power Saving Solutions (PSS) on its acquisition of a new asset-based lending facility to support its investment in its hire fleet and working capital requirements.
Working with PSS management, FRP partner Tom Cox led a team in a “targeted and competitive” process that secured the facilities with Arbuthnot Commercial Asset Based Lending.
FRP said the resultant financing structure gives Power Saving Solutions the flexibility to invest in additional fleet assets while upholding its day-to-day operations.
It added that the process drew on FRP Corporate Finance’s market expertise to create a “tailored, cost-effective and flexible” revolving financing structure, which suited the management team’s operational and strategic requirements.
PSS, based in Mansfield, sells high-performance battery storage facilities and hybrid power systems to commercial, industrial and off-grid customers across the UK.
Supported by private equity investor LDC, the business has morphed from an electrical contractor and off-grid power specialist into a provider of sustainable power solutions.
It seeks to help customers cut fuel consumption, carbon emissions and operational costs.
This news comes after FRP Corporate Finance advised on LDC’s investment into PSS in December 2024.
Commenting on his team’s achievement, Cox said: “Power Saving Solutions is a market leader in the delivery of sustainable power solutions, helping customers to reduce costs and meet their emissions targets. Arbuthnot understood this vision and was able to tailor a flexible revolving financing solution that will support the business’ growth plans over the coming years.”
Andy Richardson, CEO at Power Saving Solutions, added: “This facility supports our plans to keep investing in the solutions and capability our customers rely on, as demand for flexible and sustainable power continues to grow.
“I’m grateful to Tom and the team at FRP Corporate Finance for their support throughout the process. Their expertise helped us secure a facility that’s well aligned with our operational needs, and we’re excited about what comes next.”
