Roythornes Solicitors has helped the Lincolnshire-based Allison Group secure a £120 million refinancing deal, spearheading the real estate side of the transaction.
The funding is made up of a £20 million five-year loan from HSBC and a £100 million five-year revolving credit facility with HSBC and NatWest. It is the second deal Roythornes has helped the group secure – following the recent acquisition of Larkfleet Homes.
The £120 million in funds will be used by the Allison Group for its strategic growth plans to build 2,000 homes annually within the next five years across Lincolnshire, Cambridgeshire, Northamptonshire and Rutland, as well as the wider East Midlands, East Anglia and the South West.
Bhavesh Amlani, national head of real estate at Roythornes, said: “We are delighted to have assisted the Allison Group with this important refinancing deal, which will see them move to the next phase of their development plan.
“We pride ourselves on building longstanding relationships with clients, so we’re pleased to once again be a trusted provider for the group and look forward to seeing their successes.”
Allison John Anderson, CEO of Allison Group, said: “This deal will put the company in a stronger position to reach our projected targets and we want to thank Bhavesh and his team, who have all been a great support during the process and helped us to complete the deal within our set time frame.
“We’re excited to see what the future holds for us.”
Roythornes is a top 150 national law firm with offices across the Midlands and East Anglia. Clients include major blue-chip companies, family businesses and private individuals, based nationally and internationally.
