The deal

FRP has secured a new financing partner for international metal recycling specialists John Lawrie Group, which will provide the company with a more efficient capital structure as well as better risk-hedging for the business.

The Group, owned by Rubicon Partners, is also a successful decommissioning and steel tubular piling business servicing the UK, European and US construction markets.
Founded in 1930 by metal merchant John Lawrie in Aberdeen, the company has enjoyed a period of sustained strong trading across all its divisions, and the shareholders were looking for a long-term refinancing package to optimise the Group’s capital structure.
FRP was engaged as exclusive debt adviser to the Group, and our Debt Advisory team led by Partner Tom Cox ran a competitive refinancing process that would re-gear the business with efficiently priced facilities.

With preferred lenders selected, the team successfully negotiated a senior bank financing package involving two banks, and advised on the structural flexibility needed to support future adjustments to the financing as John Lawrie Group evolves over the next few years.
The resulting package will create a significantly more efficient capital structure for the Group, and provide efficient risk-hedging for the business, given its multi-jurisdiction operations.