Advisory and investment company Gordon Brothers has provided Scott’s Refrigerated Logistics with a $70 million asset-based lending facility.
Scott’s Refrigerated Logistics is a portfolio investment of Anchorage Capital Partners and Australia’s largest fully integrated cold-chain logistics provider.
The facility will provide additional working capital for Anchorage Capital Partners’ operational improvement plan for growth.
Gordon Brothers senior managing director Matt Aubrey said the package was based on valuations of Scott’s assets and designed to enable its growth goals.
“This financing will improve the company’s supply chain processes and delivery of cold foods and groceries to local supermarkets, ultimately benefiting Australian consumers,” Aubrey said.
Scott’s chair and managing partner at Anchorage Capital Partners Simon Woodhouse said the refinancing would enhance operations.
“It will support the continued business transformation program and provide a strong platform for growth while benefiting leading food producers, retailers and consumers,” said Woodhouse.
Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in machinery, equipment, inventory, brands, real estate, receivables, and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.
Scott’s CEO and managing director Nicholas Capp said, “The partnership with Gordon Brothers further strengthens our business enabling us to deliver our successful change program and improved service offering to all stakeholders across our network as we move into the next phase of growth.”
