FGI Provides £20MM ABL to Devenish Nutrition
“We were looking for a finance partner who understood our business and our strategic goals and who were willing to support us as we grow internationally. It was important that FGI came with us on the journey from the first introduction. They were creative in their structuring and there was a genuine team spirit as we worked together to close on the facility. We look forward to a long and fruitful relationship.”
EY Capital & Debt Advisory were delighted to work with FGI on a transaction for an Irish-headquartered business with global operations. The deal team was proactive and flexible in their structuring and execution of the transaction. We were impressed with their innovative approach and professionalism throughout.”
Devenish is a privately owned Animal Nutrition Company with an extensive focus on research development and innovation focusing on nutrition, sustainability, climate & environmental action and human health & wellbeing. The business is a market leader in health and sustainability in farming and food production and enables farmers and food producers to maximize returns whilst minimizing the impact that livestock production has on the environment. This is achieved by supporting customers, which include farmers, merchants and multi-national companies, to achieve a carbon neutral or reduced emissions food system that produces nutrient-dense food at affordable prices.
Headquartered in Belfast, Devenish is a global business with its R&D in Ireland and manufacturing and research facilities in Northern Ireland, England and Europe. The wider group extends to the US and Mexico and Turkey
Devenish is a business that is passionate about its mission in the agri food sector and sees its growth in the global arena. Finding a lender who could partner with the business and support its growth aspirations was very important to the company.
Working closely with the Devenish team, their advisers which included EY Ireland, and other lender groups, FGI was able to structure a flexible working capital facility across the business’s European jurisdictions which provides Devenish with room for growth. During the process of the transaction, a strong partnership was forged between FGI and Devenish which was pivotal in reaching a successful closing.