The Client:
One of the UK’s largest egg producers were looking for finance to expand. The family were looking for funds to build a combustion plant on site to aid their sustainability and ecological plans for the future.
The business has been trading for over 60 years and is still family owned and managed today. The owners manage all aspects of the business from ploughing the land for the grain to caring for the chicks and operating its own delivery service. Their eggs are inspected and packaged and dispatched same day and the production runs 365 days a year.
They owned several plots of agricultural land, some for crops, some with residential cottages on that are occupied by staff.
The Deal:
We secured a term mortgage against the land for a little over £3 million interest only for 7 years at 6.2% interest.
Quotes:
Stefan Radymski, Group Sales Director said “After visiting the site several times and discussing closely with the family what their plans were for the future of the business, we agreed a way forwards and secured the funding. We continue to work with the family on other aspects of their financing and have also put in place an asset finance line for a breaker.”