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Hire Purchase - Cross Borders Brewing Ltd

Close Brothers Brewery Rentals keg

Start-up enterprise funds exciting business growth plans

Friends and business owners, Gary Munckton and Jonny Wilson, realised their dream of starting their own brewery – Cross-Borders Brewing Company Ltd – in May 2016. With their backgrounds in brewing (Jonny) and financial services (Gary), theirs is a perfect match.

Challenges needed to be addressed  

In common with many start-ups, Cross Borders needed both financial support and industry expertise. Not only did they need to build a new brewery in Scotland, but also 120 casks to store the beer in. Understanding that Close Brothers has expertise in both asset finance and brewery rentals meant that they could work with specialists who had an acute understanding of their industry.

A different approach to other market lenders

Gary approached corporate finance adviser Hamilton Rankine of Breadalbane Finance who recognised that specialist knowledge was required and therefore recommended James Waterson, Regional Sales Manager at Close Brothers Asset Finance. Following the meeting, not only were Cross Borders Brewing Company offered a tailored, flexible finance package over four years to help with cash flow to cover the initial high set-up costs, but they were also referred to Close Brothers Brewery Rentals division, where they were able to receive expert advice on brewery equipment and rental services.

The overall experience

“James is a pleasure to deal with and the service I received from Close Brothers Asset Finance has been excellent. James is fantastic, really approachable, and I really value his time. He has a genuine enthusiasm and is clearly interested in what we do, which made it really easy to deal with him. The after-care he has provided us with has been first class.”

What the future holds

Initial sales have far exceeded expectations, with sales 40% higher than expected in the first two months of trading. Gary predicts his business will turnover £1m within three years with rapid expansion plans in place for year two. The aim is to become one of the best and most trusted breweries in Scotland, and working with Close Brothers has helped them realise they have the perfect partner to help them achieve their ambitions.