Funding secured quickly
A TEAM from Newcastle law firm Dickinson Dees has completed a quick deal to secure new funding for Leeds fresh food distributors Affinity Food Holdings.
The deal, which enabled London-based investment company R Capital to take a major stake in Affinity, took just five days.
It has secured the future of Affinity and its trading subsidiary Freshfayre. Altogether 125 jobs are now safe, together with those at Affinity’s many suppliers.
Alistair Scott-Somers, corporate lawyer at Dickinson Dees York office, said: “This was an exceptionally quick and satisfying deal. We began work on a Thursday and had the whole deal closed by the Monday. A full-strength team with lots of resource, led by corporate partner Nigel Williams from the Tees Valley office, was thrown at the deal to secure the investment.
“We advised the Affinity shareholders on the offer made by R Capital and their ongoing investment alongside R Capital. We also advised on the Company’s crucial relationship and ongoing lending from the Royal Bank of Scotland.”
John Graham, adviser to Affinity’s shareholders, said: “Corporate legal support does not get any better than this.
“We would go nowhere else for this type of legal work”.
R Capital was advised by London-based lawyers Fladgate Fielder.
Share
