Member Article

IW Capital launches new debt arm with multi-million pound financing for Lancashire pub company

Lancashire pub management group, Inglenook Inns & Taverns, has closed a finance deal with IW Capital that will see it acquire a portfolio of 11 freehold and long-leasehold pubs across the North West.

The £1.35m finance deal will mean the company now boasts a portfolio of over 30 pubs in the region, furthering its strategy of acquiring well-established, free-of-tie drinking holes, while also offering its pub management services to pub brands including Punch, Greene King and Robinsons.

Most noteworthy, the deal also marks the first major agreement to come out of the new debt arm at London private equity house IW Capital, who will also be managing the loan on behalf of the lenders involved.

Working with lenders to structure and provide the debt funding requirements for the deal, IW Capital also assisted Breal Capital Affiliates in providing a complementary equity injection to further support Inglenook’s expansion plans.

Managing Director of Inglenook Inns & Taverns, James Waddington, hailed the firm’s working relationship with the private equity house and hinted that more acquisitions could be on the cards.

He said: “IIT Group & BREAL have enjoyed working with IW Capital and have found their approach to be flexible and helpful throughout the deal process. We look forward to future acquisitions with IW Capital.”

Chief Executive Officer of IW Capital, Luke Davis, added: “As IW Capital celebrates the launch of its new debt offering, I am excited to be supporting a champion of regional business growth, reflecting our underlying commitment to the strength of nationwide entrepreneurship.

“We are proud to support James and his team who bring a wealth of experience to the table. I’m keen to support Inglenook on their journey.”