Simpsons Malt

Newcastle-based chartered accountancy and business advisory firm UNW has recently supported Simpsons Malt, a fifth-generation family malting and agricultural merchanting business headquartered in Berwick-upon-Tweed, on its acquisition of the grain merchanting business of W.N. Lindsay Ltd, Scotland’s leading independent grain merchant with a history dating back to 1864.

The acquisition sees Simpsons Malt, the largest independent maltster in the UK, operate four of its stores in Scotland within a new subsidiary company.

The four stores, which are situated at Gladsmuir in East Lothian, Stracathro in Angus, Keith in Morayshire, and Sidlaw in Perthshire, will provide more than 200,000 tonnes of extra in-house grain storage, enhancing traceability and sustainability for both the grower and end user.

The UNW team have long standing relationships with Simpsons Malt and provided tax advice and financial due diligence for the transaction, which completed at the end of January 2021.

Tim McCreath, Managing Director of Simpsons Malt, said: “W.N. Lindsay Ltd is a long-established and highly respected family business with an excellent reputation in Scottish and UK agriculture and we are delighted to have acquired its grain merchanting business. This combination provides a strategic opportunity to further secure our malting barley supply chain, as well as to increase our product and service offering to our growers.

“W.N. Lindsay Ltd’s people and infrastructure will complement our own and, together with our ongoing investment in business systems and processes, this acquisition is a positive step for the entire cereal and malt supply chain.”

UNW’s team was led by David Ward (Corporate Tax Partner) and Paul Kaiser (Corporate Finance Partner), alongside Tim McElwaine (Tax Senior Manager); Hayley Deeming (Tax Manager); Stephanie Davidson (Corporate Finance Senior Manager); and Mohammed Miah (Corporate Finance Executive).

Reflecting on the support received from UNW, Graeme Hogg, Finance Director at Simpsons Malt said: “I have known and worked with David Ward and Tim McElwaine for many years and knew that they would add value as part of our ‘deal team.’ It’s safe to say that their work alongside Paul Kaiser and the UNW Corporate Finance team didn’t disappoint. We were thoroughly impressed with their proactive and pragmatic approach together with the quality of advice available within the firm.”

David Ward, Corporate Tax Partner at UNW added: “We are delighted to have supported Simpsons Malt on this important strategic transaction. It was a pleasure to support both Tim and Graeme throughout the process and to have been involved in helping them fulfil a long-term ambition with the acquisition of W. N. Lindsay Ltd’s grain merchanting business.

“The deal is a key part of their current strategy, and we look forward to seeing their continued growth in the future.”

Legal advice to Simpsons Malt was provided by Matthew Walsh and Sara Worsick at Muckle LLP.

Simpsons Malt-case study
We were thoroughly impressed with UNW's proactive and pragmatic approach together with the quality of advice available within the firm.
Graeme Hogg,  Finance Director - Simpsons Malt