Irwin Mitchell’s Banking Team Advises Lloyds Bank On The Deal
National law firm, Irwin Mitchell, has advised Lloyds Bank Commercial Banking on a new £20m revolving credit facility which it is providing for housing company, MJ Gleeson Group.
Founded in Sheffield more than 100 years ago, MJ Gleeson will use the facility to help it accelerate its growth plans and take advantage of renewed confidence in the housing market.
MJ Gleeson chief executive Jolyon Harrison said: "This facility strengthens our financial position and provides us with the additional flexibility and capacity for growth. Forward orders are significantly ahead of last year and we are confident our focused strategy will continue to deliver positive results."
David Hunt, relationship director at Lloyds Bank Commercial Banking, said: "MJ Gleeson's most recent set of results clearly demonstrates the strength of the group's business model. The new facility gives the group additional liquidity to unlock value from its existing land bank as well as well as acquiring further development sites."
Dean Gormley from national law firm, Irwin Mitchell, advised Lloyds Bank Commercial Banking. He said:
Expert OpinionWe have been delighted to be involved in this latest deal for MJ Gleeson and work with Lloyds to put in place a facility which should allow the business to take full advantage of its strong reputation and improving market conditions.” Dean Gormley - Partner
MJ Gleeson has offices in Sheffield, Bury, Fleet and Sunderland and employs 215 people.