HMT was appointed by Royal Bank of Scotland to carry out the financial due diligence for development/expansion capital for Kate’s Cakes Limited.
Kate’s Cakes Limited is a provider of high quality cakes and desserts to major retailers and coffee shops. It was subject to an MBO in December 2001, which was backed by Royal Bank of Scotland, since when it has continued its rapid growth based on providing high quality and innovative products.
Royal Bank of Scotland has now provided further development/expansion capital for the equipping of a further production facility which will enable the company to meet growing demand for its products.
Andrew Thomson commented:
“Since the management buyout, the directors have successfully grown the business and the new production facility is an integral part of the director’s plan for the next stage of the business’s development. The additional space will provide the team with the basis to continue to grow the business and to expand its range of products, and I wish them every success for the future.”