Done Deal: Lough Gill Distillery

Irish Whiskey Distiller

 

 

15,000,000

Revolving Line of Credit

Irish Whiskey Distiller

Financing Event: Growth
PNC Deal Leader: Alistair Hood

The Company: Super-Premium Brand

Lough Gill Distillery was founded in 2014 following the acquisition of the Hazelwood Estate. Lough Gill began initial production in 2019, with the aim of creating a super-premium brand of Irish Whiskey in the coming years.

The Deal: Laying down for the Long Term

Sourcing heritage barley from select Irish growers, Lough Gill’s Whiskey is triple distilled in the Irish tradition. With over six acres under one roof, Lough Gill has the capacity to mature all of its product on site, thereby building its unique individual flavour profile.

The Achievement: A Deal to Be Savoured

PNC’s deep experience in the sector made it the ideal long term finance partner for Lough Gill. The facility has been specifically designed to support the cash flow profile of a scaling Whiskey distillery and drives the ability to fund the production of an additional 600,000 litres of pure alcohol each year.

The premium Irish Whiskey sector has enjoyed a fantastic resurgence in recent years. Whilst equity finance has previously predominated in our market, we wanted to find a finance solution that had the flexibility to grow with us and matched our business model. We met several lenders, but it was immediately clear to us that PNC had the deliverability we were looking for. PNC were faster and more agile compared to other lenders we engaged with. Plus, they did not get slowed down by Covid. With partners on the ground over here, they were able to complete their site visits swiftly and keep everything on track. We are laying down some exceptional Single Malts and we are delighted to have PNC at our side through the exciting years ahead.

Matt Scaife | Director, Lough Gill Distillery

Important Legal Disclosures & Information

*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured and second lien loans for sponsored and non-sponsored transactions. 

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