Page 27 - Glass Machinery Plants & Accessories no. 3/2017

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ALLIED GLASS
s Glass Furnaces
DEBT RESTRUCTURED
s Batch Plants

s Turnkey Projects

Plans for further specialist asset-based
lending and cashflow
growth at Allied
Glass Containers team comprising James
have been boosted by Cullen, Paul Rablen and
a GBP 75 million debt Steve Ive.
restructuring deal. Cullen said: “We
The Leeds-based regard the Allied Glass
manufacturer and management team
distributor of glass as best-in-class and
bottles and containers we’re delighted to be
produces 600 million partnering with them at
bottles per annum a really exciting time in
across 450 product their story.
lines and has seen “This transaction is a
strong growth in the great example of our
global whisky and gin strategy to support
markets. great British businesses,
Specialist banking putting them on the front
company, Investec, foot to compete in a
created a bespoke global marketplace post-
debt structure Brexit.
comprising a mix of “A changing economic
asset-based and cashflow landscape requires a shift
HFT provides engineering, procurement and construction
lending to support from a traditional debt
services, as well as, turnkey projects for the glass industry.
the company’s long approach to more flexible Our leadership, abilities and attention to details have given
term growth, working financing.” HFT a highly respected reputation worldwide.
capital and seasonality He added:
requirements. “Manufacturers and
Alan Henderson, chief distributors are well
executive of Allied suited to asset-based
Glass, said: “The team and cashflow lending
at Investec designed debt structures
a blended funding because they have
structure specifically high levels of balance
for our business’s shape sheet working capital
and needs, giving us the within receivables and Engineers and Contractors to the Glass Industry
firepower and headroom inventory alongside
to take advantage of cashflow to service term 3009 Washington Road
growth in our market.” lending. McMurray, PA 15317-3202 ÷ USA
Private equity firm “We’re keen to work
CBPE Capital has held a with great www.hft.com
majority stake in Allied management teams in
Glass since 2013. compelling businesses
The debt package was such as Allied +1 724 941 9550
delivered by Investec’s Glass.”
Fax: +1 724 941 3479

dchen@hft.com cyoest@hft.com