Venture Structured Finance, a division of Venture Finance has provided Regency Mowbray Company Ltd, a manufacturer of ingredients to the food industry, with an Asset Based Lending (ABL) refinancing package which has also enabled the company to complete the corporate acquisition of St Helens based Lea Green Foods Ltd. In addition, the package came with the Government-backed Enterprise Finance Guarantee (EFG) loan, and gave the management team the necessary headroom to complete the deal as part of a long-term “buy and build” strategy.
Founded in 1963, Staffordshire-based Regency Mowbray has grown rapidly by a process of expansion and acquisition. It offers one of the widest ranges of products available from any food ingredients company anywhere in the world. As an active lender of the EFG, Venture was approached because of its proven ability to include the government backed loan as part of a flexible funding package.
Kevan Shaw of Strategic Corporate Finance advised Regency Mowbray on the acquisition comments: “We are delighted to have played a role in advising the company on its acquisition and to have worked alongside Venture Structured Finance on the transaction. Lea Green Foods is a good strategic acquisition for Regency and its product range will enhance the growth prospects of the enlarged group.”
Peadar O’Reilly, Venture Structured Finance Regional director comments: “This is a great acquisition for Regency Mowbray and illustrates that funding is very much available for solid propositions. By combining Asset Based Lending with the EFG, Regency Mowbray will be able to deliver on its ambitious growth plans. I look forward to working with Jeremy and the team for what I’m sure will be a mutually beneficial relationship for many years to come.”
