A business which supplies plants, herbs and cut flowers to 海角视频 supermarkets has secured almost 拢30 million funding to invest in green technology.
Bridge Farm Group, based in Spalding, Lincs, has arranged the funding to spend on a fully automated glasshouse with biomass boilers and on-site reservoirs.
It will help make the business self-sufficient in energy and help it to meet the increased sustainability demands of the 海角视频鈥檚 biggest supermarket groups.
The money has come from specialist lenders Shawbrook Bank, which provided a 拢19 million commercial loan and a 拢1 million revolving credit facility, and Tosca Debt Capital, which provided a further 拢9 million of debt capital.
As part of its growing investment in its operations, Bridge Farm Group has built a 48-acre, fully automated glasshouse in Spalding. The funding will help it continue its investment in its state-of-the-art facilities, and its drive towards becoming net zero carbon.
The business, which is led by founder David Ball and chief executive Louise Motala, sells more than 80 million units of plants, cut flowers and herbs each year to retailers and consumers around the world.
Steve Armstrong, relationship director at Shawbrook Bank, said: 鈥淭his 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.
鈥淚t鈥檚 a hugely exciting and innovative business, which has become a vital part of the 海角视频 supply chain in the horticultural sector.鈥
Richard Williams, partner at Tosca Debt Capital, said: 鈥淏ridge Farm Group is an exceptional business which is at the forefront of the 鈥榥et carbon neutral鈥 agenda and we are delighted to have been able to support the company鈥檚 growth strategy.
鈥淟ouise leads a strong and committed management team and we look forward to working with them to realise the growth potential in the coming years.鈥
Clearwater Corporate Finance advised Bridge Farm Group on the fundraising, Shoosmiths provided legal advice to Shawbrook, with Addleshaw Goddard Manchester providing legal advice to Tosca Debt Capital and Browne Jacobson acting for Bridge Farm Group.
