Shawbrook provides £11m ABL facility to Glasgow Distillery Company

Shawbrook has provided an £11 million inventory-backed Asset Based Lending (ABL) facility to Glasgow Distillery Company, refinancing its existing funding and providing additional working capital to support continued growth.

The specialist facility is secured against eligible maturing Scotch whisky inventory, providing a funding structure designed to reflect the long-term nature of whisky production and maturation.

Founded in 2012, Glasgow Distillery Company was established with the ambition of bringing single malt whisky distilling back to Glasgow for the first time in more than a century.

The independent distiller has since developed an award-winning portfolio of premium spirits, including Glasgow 1770 Single Malt Scotch Whisky, Makar Gin and Banditti Club Rum.

As the company continued to invest in production and expand its premium whisky portfolio, it required a funding solution capable of recognising the value held within its maturing whisky inventory.

Shawbrook structured the £11 million inventory-backed ABL facility to refinance the distiller’s previous funding arrangements while creating additional headroom for investment and future growth.

The facility will enable Glasgow Distillery Company to unlock working capital tied up in maturing stock, supporting further investment in production and inventory as the business continues to develop.

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.”

“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.