Client Overview

A private equity-owned wholesale bakery, Nomad Breads is a reputable producer of high-quality artisan and speciality breads. The business supplies all major supermarkets in Australia along with domestic food service providers.

In mid-2021, Nomad Breads was looking to consolidate their existing debt facilities from two separate financiers into a single solution.

The team at GCI played an important role in helping us to consolidate our pre-existing debt facilities. Their flexible, pragmatic and patient approach helped us navigate some operational challenges and steer our business back on the right track to growth.

Nick Dignam

Partner, Fortitude Investor Partners

Client Goals

GCI’s Strategic Capital team worked closely with Nomad Breads to understand the main drivers of their business and helped them unlock value in their assets through our simplified financing arrangements. This provided the management team with a suitable runway to implement their turnaround plan.

Results

By working directly with the management team and shareholders, GCI executed the transaction quickly to ensure the incumbent financiers were refinanced within the required timeframes.

Our simplified financing arrangements removed inefficiencies and costs from having two separate financiers. By taking a pragmatic view of the business and its associated challenges, our tailored loan facility helped unlocked additional funding for Nomad Breads, which supported further growth in the short and medium term.

This ultimately led to our loan facility being repaid in full. Nomad Breads was able to execute on their turnaround plan, which resulted in a successful refinance to a lower cost non-bank financier allowing them to continue their improvement trajectory.