New facility for distiller
Inver House secures bank lending deal
The company, whose brands include Old Pulteney, has invested heavily in storage facilities, with stock warehoused in central Scotland and at its five Scotch whisky distilleries in the Highlands and Speyside.
The asset-based lending facility from Bank of Scotland will help the business improve its margins over the next five years and provide increased headroom to support its overseas expansion in India, Kazakhstan and Poland. It will also enable the company to respond quickly to growth opportunities in new markets.
Roger Hall, financial director, said: “We are an ambitious business looking to increase our share of a growing global market. The ABL facility provides greater flexibility with supply of new whisky casks and complete business transactions more efficiently.
“The new facility is significantly better value for us. It gives us access to the most cost effective borrowing, which is crucial to our business. It also helps us to continue investment in our whisky stocks, which will see our brands grow over the next 12 years and beyond.”
Simon Woodcock, director of business development for Bank of Scotland, added: “Bank of Scotland is committed to working with this sector to help Scotland prosper and is invested in supporting businesses, like Inver House, expand their international presence.”
Inver House Distillers was established in 1964 and has 210 employees across its six sites in Scotland, the majority in Airdrie.
Photo: Roger Hall, left, and Simon Woodcock