Shawbrook supports Glasgow Distillery Company with £11m inventory-backed funding facility
Shawbrook has provided Glasgow Distillery Company with an £11 million inventory-backed Asset Based Lending facility to refinance existing funding and unlock additional working capital to support the distillery’s continued growth.
Founded in 2012 to bring single malt whisky distilling back to Glasgow for the first time in more than a century, Glasgow Distillery Company has established an award-winning portfolio including Glasgow 1770 Single Malt Scotch Whisky, Makar Gin and Banditti Club Rum. As the business continued to invest in production and expand its premium whisky portfolio, it required a funding structure aligned to the long-term nature of whisky maturation.
Shawbrook structured a specialist inventory-backed Asset Based Lending facility secured against eligible maturing Scotch whisky inventory. The funding refinances the company’s previous arrangements while creating additional headroom to support ongoing investment and future growth.
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.”
The transaction was introduced by Noble & Company with Addleshaw Goddard providing legal support on the deal.