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Groundbreaking corporate finance deal enables Welsh milk to stay in Wales
27-10-2011 | Triodos Bank Corporate Finance announces today that it has successfully advised Proper Welsh Milk Company (PWMC) in raising £1.4 million of investment for a new Welsh dairy processing facility. The dairy is capable of providing more than 20,000 litres of fresh milk per day throughout the country.
Proper Welsh Milk Company (PWMC) was established in 2010, to meet demand from Welsh consumers for a range of nationally-produced Welsh dairy products. To date, most of the milk produced on Welsh farms is transported for processing to large
"super dairies" in England's West Midlands or West Country, before returning to Wales for consumption - a journey of up to 360 miles.
Triodos Bank Corporate Finance team - led by Dan Hird - has advised the founders of PWMC from the inception of the business, working closely with members of Calon Wen, a Welsh organic dairy farming co-operative. The support of Calon Wen members Roger Kerr and Richard Arnold has been instrumental in bringing sustainably produced, local milk back to Wales.
Dan Hird, Head of Corporate Finance at Triodos Bank, said:
"Triodos Bank's mission is to help finance companies that have a realistic vision to improve consumers' quality of life - in this instance, by reinvigorating the local economy, reducing CO2 emissions and unnecessary costs and delays implicit in long lorry journeys.
"This was an exciting but complex set of negotiations, requiring the support and co-operation of a number of key stakeholders including the funders - Triodos EIS Green Fund II, Finance Wales and the Waterloo Foundation.
"We are pleased to have played a central role in the development of Proper Welsh."
PWMC's Managing Director, Roger Kerr, added: "It is a great day for Wales, to have secured funding for Proper Welsh.
"At long last, Wales has a new processing facility - one that is entirely sustainable.
"Working with our corporate finance advisors at Triodos has proved entirely positive - they have been with us every step of the way.
"Having Triodos represented on our board is also very important, assisting our growth plans."
Lead advisory: Triodos Bank Corporate Finance, Dan Hird.
Legal advisor: Berry Smith, Nigel Greenaway, who commented: "Having worked on this deal for nine months, we are delighted that the transaction has been successfully completed. All parties have facilitated smooth negotiations."
Notes to editors:
Triodos Bank Corporate Finance works exclusively with sustainable businesses and has a long track record of advising businesses on raising capital through private placements and retail offers. The growth achievable from capital raisings helps businesses achieve the perfect balance between financial and ethical business objectives. Triodos has a database of ethical investors keen to invest in the UK's growing sustainability sector.
During the last 12 months, TBCF team has raised more than £20 million for businesses within the sustainability sector - with investments made by institutions, charitable foundations and private high net-worth individuals and retail investors.
Through our Europe-wide reputation and credibility in the sustainability sector, Triodos Bank has unmatched access to potential clients.
For further information, please contact:
- Jack Ozanne 0117 980 9721 firstname.lastname@example.org
- Will Ferguson 0117 980 9770 email@example.com
Triodos Bank only finances enterprises which create social, environmental or cultural added-value.
Key sectors include organic food and farming, renewable energy, social housing and fair trade. Transparency is a core value: customers are informed about the bank's lending and can target their savings to particular areas of investment.
A range of personal savings accounts is offered, and full banking services are available for businesses and charities. Triodos Bank is an independent bank founded in the Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The UK office opened in 1995 and is based in Bristol.
To find out more about Triodos Bank's range of banking services, visit www.triodos.co.uk or call 0800 328 2181.