Shawbrook backs Glasgow Distillery Company with £11m inventory-backed funding facility
The inventory-backed asset based lending facility refinanced existing debt and released working capital for growth.
Shawbrook has provided Glasgow Distillery Company with an £11m inventory-backed asset based lending facility to refinance existing debt and release working capital for growth.
As the company invested in expanding its whisky portfolio, it needed a funding structure suited to the long-term nature of whisky production.
Shawbrook structured the facility against eligible maturing Scotch whisky inventory.
The funding refinanced previous arrangements and creates room for further investment and future growth.
Noble & Company introduced the transaction and Addleshaw Goddard provided legal support.
Mike Hayward, co-founder of Glasgow Distillery Company, said: “As an independent distiller, significant value is created long before every bottle reaches the shelf.
“Shawbrook understood our business model and the characteristics of whisky maturation, structuring a facility that unlocks working capital and enables us to invest in production, expand our inventory and continue delivering exceptional spirits to customers around the world.”
Jeremy Bolton, senior director, asset based lending at Shawbrook, said: “Glasgow Distillery Company has built a distinctive position within Scotland’s premium spirits sector.
“By taking the time to understand both the business and the value of its maturing whisky inventory, we were able to structure a funding solution that provides flexibility today while supporting its long-term growth strategy.”
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