Finance Cornwall Supports Natural Fibre Company
Foot Anstey’s corporate team acted for local business finance company, Finance Cornwall, who were part of a group of investors providing finance to Cornish wool processors The Natural Fibre Company.
The Natural Fibre Company, founded in the 1980s and based in Launceston were seeking investment in order to expand and develop their brand and range of products and services, particularly to add the first UK accredited organic dye plant to their capability.
Just under half a million pounds of investment was raised from a range of investors including Finance Cornwall, Southwest Investment Group, SWRDA and a number of private investors arranged by the company and other investors introduced by SWAIN.
All investments were interdependent of each other, whether as loans, subscriptions, grant or other funding methods.
The transaction required considerable co-ordination due to the number of investors and different investment methods, requiring good working relationships between the different parties and lawyers involved. Along with Foot Anstey, this included Stephens & Scown, Roxburgh Milkins and Robinson Reed Layton.
The deal demonstrated the continued appetite of different investors in the region to invest in SMEs and is a good example of how business angels can participate in the larger deals.
Published 16/04/2008
