Private Equity


Badenoch’s second investment in November 2015 was in The Three Stills Company. Badenoch is the lead investor in a diverse and international group of shareholders who together have invested £10 million. With this long-term investment, Three Stills is building the first whisky distillery in the Borders since 1837 and will trade under the name “The Borders Distillery Company”.

The new distillery will be operational in the Scottish Borders town of Hawick in the second half of 2017. In the interim, the management have developed a more traditional blend under the “Clan Fraser” brand and an edgier blended malt under the “Lower East Side” brand.


90% of revenues is derived from exports which ties in with Badenoch’s investment philosophy of MISSA “made in Scotland, sold abroad”.

Visit Clan Fraser Whisky Website >
Visit Lower East Side Whisky Website >

“We are delighted to have the support of such experienced, enterprising and international investors to help us realise our vision and to bring back whisky distilling to the Borders. Hawick was chosen because of its proximity to fine barley and plentiful supply of water. The Borders town also boasts a long-standing manufacturing reputation including its world-famous cashmere which spans many generations of quality and refinement, characteristics which are integral to the ethos of The Borders Distillery”.

Tim Carton, CEO of Three Stills