Coaching inns operator Bulldog Hotel Group has secured a £4.5m investment from BGF (Business Growth Fund) to support its planned £20 million expansion across England. The Boston-headquartered business operates seven hotels and will use the capital injection to double the number of properties in its portfolio over the next three to four years.
Bulldog was recently named as one of the London Stock Exchange Group’s 1000 Companies to Inspire Britain 2015, an annual celebration of some of the fastest-growing and most dynamic small and medium-sized enterprises in the UK.
Revitalising high quality coaching inns
Bulldog specialises in finding high quality coaching inns and revitalising their offer across food, drink and accommodation to attract tourists as well as local and business trade. With annual sales in excess of £10m, the Group has capitalised on the growth of the UK eating out market, which is estimated to have doubled over the past 12 years, supported by an increasingly buoyant regional hotel market, which is forecast to reach record levels this year.
Founder and Managing Director, Kevin Charity, is now looking to acquire more properties in English market towns around the UK. To support the planned growth, Edward Walsh joined as Finance Director earlier this year and became a shareholder in the business through an investment made by Commer Group.
Bulldog’s existing hotels are located across Yorkshire, Leicester, Lincolnshire, Northampton, Gloucestershire and County Durham.
Kevin Charity, Managing Director, Bulldog Hotel Group said:“We have ambitious plans for the next few years, which are centred on finding and acquiring the right estates in the right locations, and sensitively restoring them in line with the character of local surroundings.
“BGF’s investment means that we are able to pursue our growth plan without financial distractions or cash flow restrictions. Already, through BGF, we have met a number of high calibre, senior people within the hospitality sector that have been able to provide insight and guidance to our plans – this type of strategic support is invaluable.”
Pictured: Kevin Charity and Edward Walsh
About Business Growth Fund
Business Growth Fund has been established to help Britain’s growing businesses. Growth potential is the key criteria. BGF will invest between £2m and £10m per business in return for a minority equity stake and a seat on the board for a BGF director. BGF will provide long-term equity investment for those growing companies that today do not have access to this source of capital. As such BGF hopes to be a catalyst for growth among smaller UK companies.
BGF is an independent company with capital of up to £2.5 billion, backed by five of the UK’s main banking groups – Barclays, HSBC, Lloyds, RBS, and Standard Chartered. BGF is managed completely autonomously with an independent management team.
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