Freeths advise Coppergreen
23rd November 2016
The taxation team at Freeths have recently advised Coppergreen Developments on a funding arrangement and acquisition.
Coppergreen, who own and operate Woodland Lakes Lodges in North Yorkshire, have secured a £25m funding package from BGF (Business Growth Fund) and HSBC. This investment has been used to fund the acquisition of Piperdam Golf and Leisure Resort in Scotland, as well as 350 acres of adjoining land. The group plans to develop and expand both holiday sites over the next few years. BGF has provided £11m of growth capital, with HSBC providing an additional £14m debt facility. Partner, Adrian Hackett, and legal assistant, Josef Korchinsky, in the taxation team at Freeths' Sheffield office advised Coppergreen on the deal. This involved advising on the restructuring of the share capital of Coppergreen and providing tax advice on other aspects of the deal. Adrian Hackett said: -There were some wonderful tax and structural complexities to this deal, and it was a pleasure for us to work with such a harmonious team across the different firms and disciplines.