AURELIUS Finance Company provides senior term loan to The Original Factory Shop


AURELIUS Finance Company provides senior term loan to The Original Factory Shop

AURELIUS Finance Company (“AFC”) has provided a new £12 million senior secured term loan facility to The Original Factory Shop (“TOFS”), the leading UK value retailer.  

Founded in 1969, TOFS’ ethos is to provide a great range of products at unbeatable prices and to be an integral part of the local community, by providing jobs for residents and supporting local causes.  With currently 166 stores spread throughout the UK’s regional towns, TOFS aims to be the “one-stop shop” in their community.  During the pandemic, the TOFS stores remained open as an essential retailer.  TOFS is Duke Street Capital investment.

TOFS was advised on the debt raising process by FRP Debt Advisory, with a team led by Partner Andy Dimmock, who commented “FRP ran a highly competitive process on behalf of TOFS to deliver a market leading debt facility. The facility, and the performance of the AFC team in meeting TOFS exacting requirements is a credit to them”.

AFC was able to provide a comprehensive and flexible financing solution that meets the ongoing working capital needs of the business and supports its future growth aspirations of opening 50 new stores over the coming years. 

AFC was advised by Victoria Thompson at Morgan Lewis; TOFS was advised by Joe Frew at DLA Piper.

TOFS CFO Ian Williams said: “We are delighted to be working with Karun and the team at AURELIUS Finance Company.  From the initial meeting to completion, they have been excellent to work with and we look forward to building on the strong relationship.  The flexible financing solution provided by AURELIUS will support TOFS as it looks to increase its number of stores as it continues with its mission to become the UK’s leading local, value, brand led retailer.”

Karun Dhir, Managing Director of AURELIUS Finance Company said: “This loan is another great example of how AFC continues to be a supportive partner for good businesses, providing additional flexible capital, despite these unprecedented market conditions. The AFC team enjoyed working with the TOFS management team, Duke Street and FRP to deliver a bespoke funding structure exactly aligned to TOFS requirements.