FDBusiness.com

The Lakes Distillery, based in Cumbria, England, has secured a £3.75 million investment from a group of investors led by Gresham House Asset Management, a specialist equity investment and asset management company. Joining existing investors and high-net-worth individuals, who recently made an additional £1.6 million investment, this is a milestone for the distillery and Gresham House’s backing is an endorsement of the strategy and ambition the company has to create a global single malt whisky brand.

Nigel Mills, chief executive of The Lakes Distillery, says: “We’re delighted about the opportunities this investment opens up. We’ve been on an incredible journey so far, and Gresham House’s investment will allow us to take the business to the next level, grow production capacity and build our brand globally. The funding will support the growth of the business, allow us to expand of the amount of single malt stock we lay down for the future, and finance some critical capital expenditure projects, including further enhancing our distillery experience for visitors.”

Graham Bird, lead fund manager at Gresham House Strategic, comments: “The Lakes Distillery has an impressive and experienced management team led by Nigel Mills, as well as an excellent track record in its field. With ambitions to float the business in two to three years’ time, this fits our mandate very well for supporting pre-IPO companies as well as highlighting our ability to complete innovative deals which provide attractive, risk-appropriate returns.”

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Nigel Mills and Paul Currie – The Lakes Distillery co-founders.