01 Dec 2020 | 03:16 pm |
Multinational law firm Pinsent Masons has advised Simpson Malt Limited on a £90m asset based lending (ABL) facility with PNC Business Credit.
The deal will enable Simpson Malt Limited, the fifth-generation family malting and agricultural merchanting business headquartered in Berwick-upon-Tweed, to fund its working capital requirements as well as facilitating wider business expansion.
The team, led by partner Edward Sunderland and including property senior associate Margaret McNeill, banking associate Aaron Kenny and solicitor Sam Williams, advised on all elements of the deal. This involved co-ordinating the negotiations with the incoming funder, the repayment of the existing arrangements and managing the closing process, all on a remote basis due to Covid19 lockdown restrictions.
Commenting on the deal, lead partner Edward Sunderland said:
"We are delighted to have worked with our long-standing client Simpson Malt Limited on another important ABL transaction. The significant refinancing will allow our client to continue their proposed expansion as well as meet day to day working capital needs."
Graeme Hogg, Director at Simpson Malt Limited added:
“Pinsent Masons are our “go to” legal adviser on banking matters having advised on two previous ABL transactions. Their expertise comes with a practicality that we know will always contribute to a successful completion.”
Key Contacts
Multinational law firm Pinsent Masons MPillay has advised Southeast Asian energy company Coro Energy plc on the sale of Coro Europe Limited to Zodiac Energy plc.
Multinational law firm Pinsent Masons has advised Desay SV Automotive Europe GmbH, a fully owned subsidiary of Huizhou Desay SV Automotive Co, Ltd, on the sale of its spare parts business to ATTB Antennentechnik Bad Blankenburg GmbH.
Multinational law firm Pinsent Masons advised DCC Energy, a division of the leading international sales, marketing, and support services group DCC plc on the acquisition of Progas Group, a leading distributor of LPG in Germany.
Multinational law firm Pinsent Masons has recruited VAT specialist, Bryn Reynolds as partner into its London office.
Multinational law firm Pinsent Masons has hired funds partner Conor Durkin to lead its funds team in Dublin as it continues to grow its pan-European funds capabilities.
Multinational law firm Pinsent Masons has advised Dublin-headquartered private equity firm Erisbeg on a majority investment in Fruition IT and Fruition Consulting.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on
Location contacts
Europe: [email protected]
Asia: [email protected]
Middle East: [email protected]
Australia: [email protected]