Investment firm completes £19m exit from pub chain
Investment manager Downing LLP has announced its exit from a series of freehold pub investments managed by Oakman Inns and Restaurants.
Downing LLP’s exit from the seven pubs follows a five year partnership with the pub and restaurant group, during which it has provided £26.7m of funding through its enterprise investment scheme, venture capital trust and DEPS vehicles as well as a number of unlisted asset-backed bonds.
London-based Downing LLP will continue to support Oakman Inn’s growth through a number of remaining investments, while also exploring new opportunities with the business.
Steven Kenee, investment director at Downing LLP, commented: “I am immensely proud to have been able to help support the impressive growth of Oakman over the past four and a half years… it will remain a genuine pleasure to continue to work with them.”
Peter Borg-Neal, CEO of Oakman Inns, added: “From the moment we began working with Downing, they used their sector expertise to understand our business and overcome our funding challenges, finding innovative ways of meeting our needs and creating solutions that work for both parties: the acid test of any successful business partnership.
“This relationship has been instrumental in our success, and while our acquisition of these seven freehold public houses is a high point, it by no means marks the end of our relationship with Downing and we look forward to continuing our work with them in the future.”
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