Lafferty & Sons is a Highland Whisky distillery, known for its flagship Och Aye The Coo whisky. They pride themselves on bringing their owners’ Italian heritage to proper Scotch whisky with one fully functional distillery and another that they’re laying the first casks for. Lafferty & Sons also offers two of their own gins, and trades across 7 international markets on top of domestic sales.
To establish the first whisky distillery with an Italian heart
Alberto and I started Lafferty & Sons in October 2018, with a vision for a Highland whisky distillery with an Italian heart. Our flagship whisky is called Och Aye The Coo (scots for Oh Yes, The Cow), and boasts the body you would expect from a highland whisky, with notes of malted barley, apple pie and cinnamon, and a smooth and delectable palate of ripe fruit, crisp pastry and warm toffee. We also offer two gins, and are excited to be laying the casks for our new distillery in collaboration with our Master Blender Ron Welsh.
We are an emerging company in the beverage sector. We trade across 7 international markets and are looking for investors to restructure our distillery in the Highlands. We already have all the necessary licences from both customs and for the restructuring.
What sets our company apart is our rich heritage and unique blend of influences. The Lafferty family, originally from Donegal, Ireland, moved to Scotland in the late 19th century, where they made significant contributions to the coal mining and spirit industries. I am a descendant of the Laffertys, and alongside my partner Alberto we bring a wealth of experience from our Mediterranean roots. Before starting Lafferty & Sons, I built extensive background in prestigious Tuscan wineries, and Alberto grew up in the renowned wine region of northeast Italy. We combine our expertise and passion to create a premium range of spirits that marries the best of Scottish tradition with Mediterranean flair.
As we look to the future, our vision is to continue the Lafferty legacy in Scotland with the refurbishment of our current distillery alongside the founding of a new one. This facility will be the cornerstone of our mission to craft exceptional gins and whiskies that reflect our unique cultural crossroads. We invite you to join us on this exciting journey, as we blend the time-honoured traditions of Scotland with the vibrant influences of the Mediterranean to create a distinguished portfolio of premium spirits.
Credit commentary
The director Alberto Borin and Claudia Gina Gamberucci are providing a personal guarantee, which means should the business fail and have insufficient assets within the business to repay the loan, we can look to the guarantor(s) to repay any shortfall on repayment. There have been no CCJs for the business or director. The Equifax score and grade, which we use to assess risk, are based on the 2023 accounts. The accounts were prepared by a reputable accounting firm, ensuring the accuracy of the reported figures. In their filed accounts, the total EBITDA was £77k in 2023, a significant improvement from a negative £47k in 2022. This positive EBITDA in 2023 is sufficient to cover the requested amount. However, the company’s turnover decreased by £205k from 2022 to 2023. There was also a decline in Tangible Net Worth, which fell to a negative £15k in 2023. Despite these changes, the company’s stock levels remained consistent at £53k for both years. The Debt Service Coverage ratio is 6.19, and the net gearing ratio is 182%, indicating mixed financial risk. The company has maintained stable creditor days at 56, reflecting its ability to pay its creditors on time. Currently, the company has loans from HSBC PLC and a mortgage with DSL Business Finance Limited. The bank statements show reasonable affordability, and the accounts are in good standing, with no negative balances.
Inflation Risk
The company has stated that inflation will not affect its business. Since the majority of lending to the business is at a fixed rate, they will not be immediately affected by interest rate increases.
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