The asset-based revolving debt facility, secured solely on inventory, is committed for a three-year period and will be utilised to refinance previous funding and supplement general working capital.

The Powerscourt Distillery, situated on the scenic Powerscourt Estate in County Wicklow, intends to use this significant investment to expand production, enhance brand development, and facilitate penetration into new markets. The financial injection thus propels Powerscourt into its next growth phase, underlining PNC’s confidence in the brand’s distinctive identity, premium spirits, and substantial potential in the global whiskey market.

HNH, with its specialist corporate finance advisory expertise, was selected following the successful completion of financing projects for multiple distilleries, including Aberargie Distillery and Clydeside Distillery. The financing process was spearheaded by HNH director Bruce Walker, who has been praised for his professional approach by Powerscourt’s CFO, Brian Burke.

Roger Duggan, general manager of The Powerscourt Distillery, said: “Leveraging our substantial whiskey stocks makes great sense. It will enable us to continue growing at the pace we want and further develop our brand globally. More importantly, it will allow us to achieve our ambitions with greater financial stability and certainty in the years ahead.”

Mr Burke, CFO of Powerscourt, added: “We were impressed with the professional management displayed by Bruce Walker and Peter Graham from HNH, and this additional funding will allow us to further increase our production levels.”

Mr Walker from HNH added: “This deal is a great result for The Powerscourt Distillery and the outcome of a competitive process led locally by the HNH team.

“We were delighted to work with such a high-quality asset with an outstanding management team with a crystal-clear strategic vision. It was also good to work with PNC again, who were able to deliver a compelling proposal based on their clear understanding of the sector and their desire to build a strong relationship with the team at Powerscourt.”

The Powerscourt Distillery is committed to sustainability, sourcing local ingredients, and preserving the surrounding area’s natural beauty.

The company was established in 2016 and began distilling in 2018, currently selling single malt, grain, and blended Irish whiskey under the Fercullen brand. It released its blended whiskey, Fercullen Falls, in 2022, comprising of whiskey blended at Powerscourt for the first time. In May 2023, they released the first whiskey fully distilled in Co. Wicklow in 100 years, Fercullen Single Malt.

Legal advice to Powerscourt Distillery Limited was provided by Daniel Cashman and Edward Evans of Beauchamps LLP and the inventory valuation exercise was provided by Nick Pope of SIA Group. Euan Cluness and Peter Smartt of Addleshaw Goddard LLP provided legal advice to PNC, who were led by regional director Alistair Hood.