Gordons advises Samy Group on £15m HSBC refinance and more than 20 store acquisitions

Gordons has advised Samy Group on a recent £15m refinance with HSBC and more than 20 store acquisitions over the past two years.

The Middlesbrough-based independent convenience and forecourt retailer has been a client of the firm since 2019. The refinance will see Samy Group implement its expansion plans to further establish the company as one of the largest independent retailers  in the country.

Over the course of the relationship, a team from Gordons led by commercial property partner, James Kimberley, has provided advice to enable the company’s continued growth.

This saw the firm act on the purchase of multiple convenience store packages from national retailers, such as Sainsbury’s and various regional Co-operatives, which are now traded as Morrisons Local and Budgens, as well as the acquisition of several petrol filling station sites.

Mohan Palanisamy, owner and director at Samy Group, said: “As a retail specialist law firm, Gordons understands the pace of our market. The firm is agile, responsive and practical, just as we have to be.

“We have made great progress with our expansion plans and there is more to come now thanks to the financial backing provided by HSBC.”

Samy Group’s estate now comprises around 70 sites, including a mix of owned locations and stores operated under commission arrangements as well as a retail investment portfolio. The retailer says the business is constantly looking for new ways to continue the sustainable growth of the Group.

James Kimberley commented: “Samy Group has a real entrepreneurial spirit and the company has grown quickly by identifying the right sites and acting decisively.

“We’ve supported the business across acquisitions and funding since 2019. We’ve enjoyed the fast-paced journey so far and are pleased to have advised on these latest transactions as it continues to expand.”

Find out more about Gordons’ retail specialism here and our commercial property expertise here.