The Artisanal Spirits Company (ASC), owner of The Scotch Malt Whisky Society, has raised £19.5 million in development funding ahead of a possible flotation of the business.

The new facilities from Royal Bank of Scotland and Lombard will enable the Society to further invest in whisky and other spirits stock as well as new cask wood.

Headquartered at The Vaults in Leith, The Scotch Malt Whisky Society (SMWS) is a curator and provider of premium single cask Scotch malt whisky and other spirits for sale across the world.

Our asset-based lending team assisted ASC with new make spirit and mature whisky inventory and financial reporting valuation advice that provided the foundations to secure the funding.

David Ridley, managing director of ASC, said: “While we had a number of challenges throughout the past 12 months, the Scotch Malt Whisky Society has continued to thrive thanks to its valued members and our enhanced on-line offering with virtual tastings and our Unfiltered magazine moving to a monthly on-line format.

“This support from Royal Bank of Scotland will help us deliver on our exciting future plans and bring an increased range of superior whisky and other spirits to our members. The team at the bank have been great, demonstrating an excellent understanding of our business needs – it was a very smooth, collaborative experience throughout.”