Arran Isle Ltd, the Yorkshire based building products group, will be pursuing a growth agenda after successfully putting in place new long term global funding arrangements
The £200m turnover global business, which operates across numerous jurisdictions including the US, UK, mainland Europe and China, has secured a £45m facility through 2016 from Burdale Financial, a subsidiary of Wells Fargo Bank in the US, advised by international law firm Pinsent Masons and professional services firm KPMG.
Robert Barr, Chief Executive of Arran Isle Ltd, said the transaction: “provided a robust long term platform for future growth, enabling us to accelerate our new product development and plans for our strong portfolio of market leading own brands globally, which have already been boosted by the strengthening of the residential housing market in North America.”
The Pinsent Masons team was led by partners Helen Ridge, Partner and Head of Manchester office, and Edward Sunderland, who heads up Pinsent Masons’ Asset Based Lending practice. Commenting on the transaction Helen Ridge said:
“We are delighted to have worked with Chief Executive, Robert Barr, and the full team at Arran Isle on this refinancing. The Pinsent Masons team has worked with and supported Robert and his team for many years and are pleased to have played a part in delivering a complex deal in a very tight timescale.”
KPMG Partner Ian Warman, who led the team which provided debt advisory, due diligence, tax and pension advice, said:
“Supporting Arran Isle in its refinancing is incredibly satisfying. The transaction needed to address the priorities of exiting funders and the requirements of various international jurisdictions, while – crucially – underpinning the company’s commercial ambitions.”
Robert Barr concluded: “Pinsent Masons and KPMG were an integral part of our team, working seamlessly with us to get this important and complex growth deal delivered.”