Private equity owned Scott’s Refridgerated Logistics has an extra $70 million to put towards its mooted turnaround, after securing a new asset-backed facility.
Street Talk can reveal Scott’s picked up the funding from investment and restructuring group Gordon Brothers, which valued more than of 2000 of Scott’s vehicles and plant and equipment assets before writing its cheque.
Matt Aubrey-run Gordon Brothers has popped up in a few deals this year including heavy earthmoving equipment National Group and Allegro’s acquisition of Toll Global Express.Scott’s is the country’s biggest integrated cold-storage logistics group, and was acquired by Anchorage in June 2020.
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