Private investment and alternative finance specialist IW Capital announces a £1.83m loan for an existing client, Inglenook Inns and Taverns Limited.
The loan represents the latest funding round for Inglenook to help grow and consolidate its regional presence across the North West of England.
The business will use the loan to further expand its portfolio and underpin the next stage in the development of the company through the acquisition of another 3 freehold / long leasehold sites and the provision of growth capital. The Darwen-based pub group now owns or manages 40 pubs.
IW Capital structured the loan on behalf of its investors and will be managing it on their behalf. This new loan is consistent with IW Capital’s strategy of supporting proven and profitable businesses and is in keeping with its long-term initiative of supporting regional scale-ups through both private equity and debt-based investment.
Luke Davis, IW Capital chief executive, said: “As IW Capital celebrates the closing of its first debt fund, I am excited to be supporting a champion of regional business growth, reflecting our underlying commitment to the strength of nationwide entrepreneurship.”
Inglenook Inns & Taverns managing director James Waddington has commented on the deal: “Inglenook is hugely excited to announce this funding that will facilitate the further expansion of our freehold portfolio. We have experienced great growth in the last two years and are looking forward to the future and our continued partnership with IW Capital.”
Inglenook works in partnership with Punch Taverns, Greene King, FL Robinsons Limited, Ei Group, Daniel Thwaites Plc, Timothy Taylors and Star Pubs & Bars.