Lincolnshire firm set to bloom with multimillion-pound refinancing package

Lincolnshire horticultural firm, Bridge Farm Group, has landed a multimillion-pound refinancing package through FRP Corporate Finance.

Bridge Farm, based in Spalding, 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.

Bridge Farm’s specialist bioscience division is a leader in plant research and development. The business’ team of experts are focused on the identification, cultivation, and extraction of high value functional and active molecules from plants.

Established in 1988, the firm has an annual turnover of £30m and has a workforce of 160 employees.

The FRP Corporate Finance debt advisory team was led by partner Tom Cox and manager Rory Denison.

Cox 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.”

The transaction was completed with support from advisers including Browne Jacobson (legal counsel – Bridge Farm Group), Shoosmiths (legal counsel – Shawbrook Bank), EY (financial due diligence) and Savills (property due diligence).