Brodies LLP advises RBS in deal with major timber company
Brodies LLP has advised RBS in a new banking relationship with James Donaldson & Sons Ltd (JDS), an independent processor, manufacturer and distributor of timber and engineered timber products, for RBS to provide funding services across the JDS Group.
Under the agreement - which will benefit all four JDS Group companies (James Donaldson Timber Ltd; Donaldson Timber Engineering Ltd; MGM Timber (Scotland) Ltd; and James Donaldson Insulation Ltd) - RBS will provide a debt structure to support the existing operating, capital expenditure requirements and growth plans of the Group with a mix of term, capex revolving credit and working capital facilities.
Bruce Stephen, head of banking & finance at Brodies said: “We were pleased to work with the RBS team on this key strategic rebank to ensure smooth transition for both the customer and the bank. Good communication, an in-depth understanding of requirements of all parties and resolving potential hurdles resulted in a very successful transaction and great platform for the JDS business.”
Commenting on the Group’s choice of RBS as its new strategic lending partner, Andy Kilgour, regional director, RBS Corporate, Edinburgh, said: “A family business with a long and proud history, James Donaldson & Sons remains very focused on its future with ambitious growth plans.
HBJ Gateley advised James Donaldson & Sons Limited in relation to the negotiation of the funding package from RBS.
Euan Cluness, partner with HBJ Gateley, said: “The move to RBS as funder was a significant transaction for James Donaldson & Sons Limited and will provide them with a fantastic platform to fund future expansion.