Moorcrofts LLP advises on restructuring of the Harlow Group

The Harlow Group is a market-leading provider of precision sheet metalwork, fabrications and 3-D-printed additive components. Established in 1975 in Harlow, the company has grown in size and experience, and currently employs over 130 people in the UK, with customers including General Electric, Lotus Cars, Raytheon and Sony.

The restructuring included the exit of a shareholder, a transfer of loan notes, and the giving of a performance guarantee in relation to certain obligations of US sister company Harlow Fastech LLC in relation to the establishment of its precision sheet fabrication plant in Danville, Virginia.

The restructuring also involved a restructuring of term loan facilities provided by Santander UK plc and a new invoice finance facility from HSBC Invoice Finance.

Peter Woolley (corporate partner) led the transaction, with support from Matt Jenkin (employment partner), and Mohsin Shabbir (corporate solicitor).

David Gordon-Smith, the finance director of Harlow Group, said:

“We have sought Moorcrofts’ advice on a raft of matters recently. The best thing about using Moorcrofts is their attention to detail and ability to relentlessly pursue the requirements for completion.  Peter Woolley goes above and beyond by providing both practical and compelling advice, but also explains it in plain English so I can assess risks and make the best decisions quickly.  For me, once it was in Peter’s hands I no longer had to think about it or worry whether things were progressing – it is massively comforting knowing Peter and Moorcrofts are on the case.”

Peter Woolley commented as follows:

“It was a great pleasure working with David and the rest of the team at the Harlow Group. I hope that the opening of the US plant will provide the business with genuine momentum, and I look forward to seeing the Harlow Group continue to develop over the coming years.”

If you are considering any form of corporate restructuring or refinancing, please feel free to contact Peter Woolley (DDL: 01628 470016; Email: peter.woolley@moorcrofts.com).