Belfast-based Norlin, a privately-owned business specialising in hospitality, leisure, and real estate, has secured a significant multimillion-pound funding deal from Upstream ABL.

This investment will enable Norlin to roll out a series of major regeneration-led entertainment venues across the United Kingdom.

This funding arrangement is the latest in a string of major deals supported by Upstream ABL, Northern Ireland's only independent provider of Structured Asset Based Lending (ABL) finance solutions. Upstream recently secured £150 million in new funding from London's Pollen Street Capital earlier this year, making this one of its largest funding deals to date.

Norlin has recently diversified its portfolio to include innovative urban regeneration projects, notably Manchester's award-winning 'Freight Island.' This successful indoor/outdoor dining and entertainment venue, created by transforming a derelict space at Mayfield Depot, opened in 2020 and has quickly become one of Manchester's best-known destinations. Norlin added 'Freight Island' to its portfolio via a joint venture with its original founders, Jon Drape and Gareth Cooper.

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The new funding from Upstream will support both Norlin's core business operations and facilitate the expansion of the 'Freight Island' concept to new city centre locations across Great Britain, including Brixton in London, Leeds, and Newcastle.

Lewis McCallan, Partner at Upstream ABL, commented on the partnership: "Our partnership with Norlin represents yet another landmark deal in our own growth strategy, and together we are helping to realise the exciting ambitions of a Belfast-based group committed to scaling a powerful, proven business model across the UK and beyond. Alongside their successful core hospitality and entertainment business, Norlin's planned developments will drive regeneration, create jobs and deliver real economic value. We're delighted that Richard, Stephen and Niall have joined us on a shared growth journey, and we wish them continued success."

This marks Upstream ABL's third major transaction in as many months, following its successful Management Buy-Out (MBO) in January 2025. Mr McCallan explained: "Our Structured ABL solution ensures Norlin can access the capital it needs by providing revolving credit facilities and term borrowing supported through a combination of quality asset classes including property and inventory as well as group cash generation."

Norlin is already a significant investor in several regeneration projects within Northern Ireland, including Titanic Distillers at Thompson's Dock in Belfast and the development of a new private hospital at the former B&Q site on Boucher Road.

Richard Irwin, co-founder and director of Norlin, welcomed the partnership: "Our partnership with Upstream delivers unrivalled flexibility and funding that unlocks a range of compelling and planned opportunities for our business. This will significantly advance our plans for growth through a range of projects, and the funding illustrates Upstream's confidence in our established track record to date."

Upstream ABL, established by Judith Totten MBE in 2011, is noted for its flexible and agile approach to funding solutions, providing local decision-makers and swift feedback to businesses.

For more information visit www.upstreamabl.com