Case Study: Bladnoch Distillery secure a £3million asset based lending deal

Published on: 18th May 2016

Our asset based lending team has helped Bladnoch Distillery Limited secure a £3million asset based lending deal with The Royal Bank of Scotland that will free up cash flow and support re-establishment of the Bladnoch Distillery and brand as highly sought after Lowland Scotch whisky.

Bladnoch Distillery Limited is a single malt distillery located on the banks of the River Bladnoch in South West Scotland.  Bladnoch was established in 1817 and is one of the oldest Scotch whisky producers in the region.

The distillery ceased production in 2009 and was acquired in 2015 by Australian entrepreneur David Prior who plans to re-invigorate the brand in the UK as well as exporting its products to Australia and beyond.

Our asset based lending team provided The Royal Bank of Scotland and the company with an independent inventory valuation on their maturing whisky. 

Funding is being provided by The Royal Bank of Scotland’s team who structured an innovative £3million facility that allows Bladnoch Distillery Limited to invest in their significant growth ambitions. The facility will also contribute to ongoing working capital to meet new production costs following the planned installation of a new distillery.

David Prior, owner of Bladnoch distillery, said:

“We see great opportunity in Scotch whisky and have big plans for the future. Initially we are concentrating on getting Bladnoch Distillery operational again and launching our Pure Scot and Bladnoch products.

“The valuation work that Sanderson Weatherall completed gave us the ability to free up the cash value within our company assets and we are now able to focus on our key company objectives. Without Sanderson Weatherall’s help we would not be in such a strong position to move forward.”

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Asset based lending

Asset Based Lending ("ABL") is becoming an increasingly popular alternative to traditional funding. ABL allows businesses to acquire funding against all asset classes including; • Accounts Receivable• Inventory• Plant & Machinery• Property Here at Sanderson Weatherall, we provide specialist advice and support to Asset Based Lenders across the UK and Ireland; supporting both domestic UK and cross border European transactions. Our advice also extends further to Corporate Finance Advisors, Private Equity Investors and direct to businesses. Collateral valuations and due diligence surveys are an important part of the secured asset based lenders considerations when considering new and reviewing existing portfolio - ABL transactions and are a major requirement of the credit process. These valuations and surveys support the lenders structured deal offering and are vital in the decision making process for secured lending on acquisitions, refinance and MBO/MBI deals. We have a unique team with extensive UK, European and US experience in collateral valuation, due diligence, risk profiling, portfolio management and exit strategy. We offer collateral valuation and due diligence primarily on the following asset classes: • Accounts Receivable• Commodity Inventory• Commercial and Industrial Manufacturing Inventory• Wholesale Inventory• Plant and Machinery• Property With the knowledge and experience here at Sanderson Weatherall, given our national coverage, we have the range of skills to support the needs for collateral reviews, due diligence, valuation for all secured lending requirements; whether new business, managing existing lending portfolios or advising on risk and recovery profiles. Click here to view our recent case studies

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