Lincolnshire horticultural experts, Bridge Farm Group, is set to enter a new phase of growth after securing a multi-million-pound refinancing package.
Bridge Farm, based in Spalding, produces ornamental plants and cut flowers. The business grows more than 70 million plants and flowers each year in 60-acres of low-carbon, water-efficient and biomass-heated glasshouses. The business sells to UK-wide supermarket and DIY retailers.
In addition to its horticultural operations, Bridge Farm’s specialist bioscience division is a leader in plant research and development. The business’s team of experts are focused on the identification, cultivation, and extraction of high value functional and active molecules from plants.
Established in 1988, Bridge Farm has an annual turnover of £30 million and has a workforce of 160 employees.
To support Bridge Farm’s growth ambitions, the FRP Corporate Finance Debt Advisory team, led by partner Tom Cox and manager Rory Denison, ran a competitive debt raising process to identify a financing partner to support the next phase of its growth plans having recently completed investment in a new Bioscience facility.
Having secured two fully credit backed offers to refinance the group, FRP subsequently supported management in the detailed negotiation of terms to completion of the financing.
The multi-million-pound refinancing package will support Bridge Farm’s ongoing expansion and enable it to continue to consistently produce its range of plants and cut flowers at scale while also penetrating the market for plant-derived extracts and molecules.
Tom Cox, partner at FRP Corporate Finance, said: “This refinancing facility provides much greater flexibility to Bridge Farm in its new financing arrangements and has reduced its cost of capital.
“The transaction successfully delivers more favourable terms to the business, whilst also providing the group with additional capital to help deliver the ambitious growth plans within its bioscience operations.”
Louise Motala, Managing Director at Bridge Farm Group, said: “This deal represents another key milestone for Bridge Farm as we continue to expand and build value in the business.
“It is essential that we continue to invest to maintain our expertise in both horticulture and bioscience and this new facility affords us greater flexibility to explore wider routes to growth.
“The advice and support we received from FRP’s Debt Advisory team was outstanding and their expertise ensured a smooth transaction from start to finish.”
