Flower power for Lincs firm as it lands £29m funding line
Spalding-based Bridge Farm Group, one of the UK’s largest producers of ornamental plants, flowers and herbs, has secured £29m of debt finance from Shawbrook Bank and Tosca Debt Capital.
As part of Bridge Farm Group’s investment in its operations, the business has developed a 48-acre, fully automated glass house in Spalding. The modern Clay Lake site includes biomass boilers and on-site reservoirs, making Bridge Farm Group energy self-sufficient.
The new funding will enable Bridge Farm Group to continue its investment in its glasshouse facilities, helping the business to meet increased sustainability demands of the UK’s supermarkets, which are focused on driving towards a net zero carbon supply chain.
Bridge Farm Group, which is led by founder David Ball and CEO Louise Motala, sells more than 80 million units of plants, cut flowers and herbs per year to retailers and consumers across the globe.
Steve Armstrong, relationship director at Shawbrook Bank, said: “This was a fantastic opportunity for Shawbrook to assist with the refinance of debt facilities following Bridge Farm Group being returned to independent ownership last year.
“It’s a hugely exciting and innovative business, which has become a vital part of the UK supply chain in the horticultural sector.”
Richard Williams, partner at Tosca Debt Capital, added: “Bridge Farm Group is an exceptional business which is at the forefront of the ‘net carbon neutral’ agenda and we are delighted to have been able to support the company’s growth strategy. Louise leads a strong and committed management team and we look forward to working with them to realise the growth potential in the coming years.”
Clearwater advised BFG on the fund raising, Shoosmiths provided legal advice to Shawbrook, with Addleshaw Goddard Manchester providing legal advice to TDC and Browne Jacobson acting for BFG.
