Edinburgh-based private equity firm Inverleith has acquired a majority stake in gin and whisky distiller Eden Mill St Andrews.

The deal, announced yesterday, was for an undisclosed sum. Eden Mill said the investment will “see the company push forward with its ambitious distillery build with a targeted opening of the new distillery in late 2022”.

The new distillery, on the University of St Andrews Eden Campus, is expected to be climate positive.

Eden Mill was started in 2012 by Tony Kelly and Paul Miller.

Miller (pictured) said: “We have been looking for an investor who shares our passion for the Eden Mill opportunity, who understands the uniqueness of the opportunity and is aligned to our vision. With their consumer strategic brand and commercial expertise, I am confident that we have found the right partner to drive and support the next and most significant stage of the Eden Mill journey.”

Miller will stay on as managing director, while a new senior team and board are in the process of being established. Kelly will no longer be involved in the day-to-day business.

Other Inverleith investments include Artisanal Spirits Company, owner of The Scotch Malt Whisky Society. The investment company features Paul Skipworth, former chief executive of The Glenmorangie Company, as managing partner.