Business: Fourpure Limited
Product: Equipment finance – hire purchase
Fourpure is a London-based brewery that was setup by brothers Dan and Tom Lowe in 2013. Since starting, it has gone from strength-to-strength and grown substantially.
The business prides itself on using top-quality ingredients to brew their beer. In fact, this approach to the four main elements used in brewing – grains, hops, yeast and water - inspired their name, ‘Fourpure’.
From the outset, a key strategic aim of the business was to invest in infrastructure, people and process. This enabled innovation and growth at scale and speed, but also put pressure on the company’s cash flow.
The business needed additional working capital to allow them to keep up with the rapid development and growing demand they were experiencing.
A hire purchase facility allowed Fourpure to access the equipment they needed upfront while spreading the costs over an agreed period. With fixed monthly repayments, they could manage cash flow easily and, at the end of the finance term, they would own the assets outright.
The equipment finance solution allowed Fourpure to expand their brewery and invest in state-of-the-art equipment. This included the installation of a 40 hectolitre brewhouse, complete with fermentation vessels, carbonator, centrifuge, CIP and associated equipment.
In addition to equipment finance, Fourpure also worked with Close Brothers to improve access to kegs as their business needs increased. This included specialist funding for containers.
Close Brothers’ in-depth knowledge of the brewing industry and equipment Fourpure required facilitated the completion of this complex deal in a time-frame that suited the brewery.
Using the hire purchase solution, Fourpure were able to invest £2.5million into new equipment, expand into a new warehouse, and increase production capabilities by 400% to 14 million pints per year.
The new brewhouse and advanced brewing, packaging and distribution facilities enabled Fourpure to thrive.