Shoosmiths advises Jacobson Group on £14million asset based finance deal

Shoosmiths advises Jacobson Group on £14million asset based finance deal

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Author: Kellie Young

National law firm Shoosmiths has advised the management team of branded footwear supplier, Jacobson Group on a £14m funding package from Shawbrook Business Credit.

Jacobson's, with a history of more than 80 years in the footwear industry owns an impressive portfolio of brands which cater for a broad cross section of market sectors including Ravel, Dolcis, Gola and Frank Wright.

The deal, led by corporate partner Graham Hall, will enable the company to further expand their international distribution network and continue to grow their online presence.

The £14,345,000 asset-based lending facility comprised a £9,000,000 confidential invoice discounting line, a £2,345,000 property term loan and a stock revolver of £3,000,000.

Harvey Jacobson, chairman of Jacobson Group commented: 'We were very impressed by Graham and the corporate team at Shoosmiths, who gave us exceptional advice throughout this complex transaction. They were very commercially aware and listened to our business needs to give us the best possible advice on the deal.'

Graham Hall said: 'It was a pleasure to support Jacobson Group in such an important transaction that will support their growth strategy and help take the business to the next level. I wish them every success for the future.'

Shoosmiths' corporate team has advised public and private companies, management teams, investors and debt providers through the business life cycle. The firm's banking and finance expertise extends over a wide variety of transactions, acting for borrowers, lenders and investor on corporate lending, acquisition finance, asset finance, real estate finance, marine and shipping finance, invoice discounting and refinancings.