The Lakes Distillery has secured funding to help it seek out overseas markets.
The Newcastle-headquartered company set up England’s largest whisky, gin and vodka distillery eight years ago, producing spirits on the shores of Bassenthwaite Lake in Cumbria. Alongside the production of the Lake District spirits, the firm also welcomes thousands of tourists each year to its visitor centre, shop and bistro.
Now corporate finance company WilliamsAli has secured the undisclosed funding from specialist lender Beechbrook Capital, at a time when the company is increasing its production of single malt whisky and exporting the brand to major whisky markets such as USA, France, and Japan.
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Beechbrook Capital is a specialist lender providing loans and minority equity capital into SMEs across the UK and Europe and its investment into The Lakes Distillery represents the sixth investment from its UK SME Credit III fund. The transaction was facilitated by Jon Petty, investment director and Jake Taylor, associate director.
Mr Petty said: “We are delighted to be supporting The Lakes Distillery having worked with the team closely to build a bespoke debt package that fits with the company’s growth ambitions. We look forward to working with David and the rest of the team at The Lakes Distillery as they continue on their exciting journey to take their award-winning products into overseas markets.”
Newcastle advisors played a leading role in securing and negotiating the transaction, led by dealmaker Abu Ali at WilliamsAli Corporate Finance. Legal advice was provided by Louise Duffy at Muckle LLP.
David Robinson, chief financial officer at The Lakes Distillery said: “This is another important step in our ongoing growth plans as we continue to deliver our ambitious strategy and create award winning products. We have received terrific support from Beechbrook who took such a positive approach to the deal together with the teams at WIlliamsAli and Muckle, who helped us navigate and negotiate the fund raising. We appreciate the dedication of the teams in managing a smooth process throughout and delivering a successful transaction.”
Mr Ali, managing director at WilliamsAli Corporate Finance said: “It’s been a privilege to work with Nigel and David on this project and to support such an iconic brand on its future growth. Being an independent and well-connected corporate finance boutique means that we delivered this despite the challenging economic backdrop whilst also raising significant funding from Beechbrook, who were fantastic to work with. This is testament to the strength of the brand, the tenacity of the North East deals market and our in-house technical expertise.”
Louise Duffy, partner at Muckle said: “The Lakes Distillery is an important, long-term client of the firm, working with lawyers across a variety of practice areas. It has been great to work with David, his team, and the other advisors on the refinancing to help take the business to the next level. There are exciting times ahead for this innovative company.”
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