Gordon Brothers Provides Scott’s Refrigerated Logistics with A$70M Asset-Based Lending Facility

Gordon Brothers, the global advisory, restructuring and investment firm, has provided Scott’s Refrigerated Logistics, a portfolio investment of Anchorage Capital Partners, with a A$70 million asset-based lending facility.

The facility will provide Australia’s largest fully integrated cold-chain logistics provider with additional working capital for Anchorage Capital Partners’ operational improvement plan to support growth.

“In partnership with Anchorage Capital Partners, we were able to use our full suite of services and our global expertise in asset valuations to provide Scott’s Refrigerated Logistics a bespoke financing package that enables its operational improvement plan and growth,” said Matt Aubrey, Senior Managing Director at Gordon Brothers. “This financing will improve the company’s supply chain processes and delivery of cold foods and groceries to local supermarkets, ultimately benefiting Australian consumers.”

“The refinancing will enhance Scott’s Refrigerated Logistics’ operations, support the continued business transformation program and provide a strong platform for growth while benefiting leading food producers, retailers and consumers,” said Simon Woodhouse, Managing Partner at Anchorage Capital Partners and Chairman of Scott’s Refrigerated Logistics.

“The partnership with Gordon Brothers further strengthens our business enabling us to deliver our successful change program and improved service offering to all stakeholders across our network as we move into the next phase of growth,” said Nicholas Capp, CEO and Managing Director of Scott’s Refrigerated Logistics.

Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in machinery, equipment, inventory, brands, real estate, receivables, and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.

Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations. The firm’s tailor-made solutions provide clients additional capital alongside traditional debt and equity, and its structures complement senior asset-based lending facilities and include credit and yield enhancements.

About Gordon Brothers

Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.

About Scott’s Refrigerated Logistics

Scott’s Refrigerated Logistics (ScottsRL) is Australia’s only truly dedicated national temperature-controlled supply chain network. ScottsRL are leaders in refrigerated logistics, providing temperature-controlled delivery solutions and warehousing services to clients across Australia. The Company operates 21 cold storage facilities across all Australian mainland states, as well as a transport fleet of ~1,800 trucks / trailers and ~450 rail containers. ScottsRL’s commitment to total transport solutions gives customers access to a wide range of essential and reliable. With world-class temperature-controlled warehousing facilities located in all Australian mainland State capital cities, and depots in many regional centers, ScottsRL has Australia covered.

About Anchorage Capital Partners

Anchorage Capital Partners is a specialised private equity firm that invests in businesses operating below their full potential, requiring significant transformation or in complex special situations.

Anchorage Capital Partners seeks active partnerships with management teams where the firm can apply its unique combination of capital, operational expertise and change disciplines to deliver sustainable performance improvement.

The professionals at Anchorage are highly experienced, having been involved in private equity investments in the Asia Pacific region for over 25 years. Anchorage has managed ~$1 billion in commitments across three funds and co-investments.