OakNorth

Predictions vs reality: testing OakNorth’s outlook on hospitality

The hospitality trade is a hard one. It runs hot in summer, cold in winter, and never moves in straight lines. Despite costs rising and customers shifting, the doors must open and the lights must stay on. As a lender to hotels, pubs and restaurants, OakNorth sees much of this…

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Fortress and Lion Capital secure £30m loan to support Loungers deal

Lion Capital and Fortress Investment Group have secured a £30m club loan from OakNorth to support the acquisition of Loungers, the UK’s all-day café-bar operators. Under Fortress and Lion’s ownership, Loungers plans to continue its proven site rollout strategy, opening over 30 new sites a year to capture further market…

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The Alchemist FY sales surpass £60m in company first

Bar and restaurant chain, The Alchemist, has reported that its total sales have passed the £60m mark for the first time in the year ended 31 March 2024.  Despite the well-documented challenges that the UK economy continues to face, such as a high inflation rate, The Alchemist believes that the…

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Today’s news in brief – 26/11/24

CAMRA has reported that pubs will soon be unable to stock 11 beers, following the Carlsberg buy-out of the last of Marston’s UK brewing operations. The Campaign for Real Ale has expressed concern that powerful global brewers could “hugely reduce consumer choice in the UK” as CMBC axes eight classic…

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Rocket Leisure secures £6.4m loan to boost expansion

Live music operator Rocket Leisure has secured a £6.4m loan from digital bank OakNorth to refinance an existing facility, acquire the freehold on its Venn St site and expand with additional sites. Founded in 2010 by brothers Russell and Howard Taylor and their business partner Tom Jackman, the business has…

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Sticks n Sushi secures £22m loan

Sticks n Sushi has revealed that it has secured a £22m loan from Oak North Bank to support further growth. The business was acquired by leading private equity firm, McWin Capital Partners, in January this year. McWin is a sector specialist with stakes in a number of chains, including: Gail’s…

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Today’s news in brief – 05/12/23

Marston’s swung to a £30.7m loss despite revenues rising 9.1% to £872.3m, due to interest rate hikes and property valuations. Yet, with optimistic Christmas bookings, the pub chain noted encouraging revenue figures. Meanwhile, the group has appointed a new CEO, Justin Platt, effective 10 January. The group’s focus is on…

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Red Oak Taverns confirms debt refinancing

Red Oak Taverns, the independent pub company, has revealed it has refinanced its debt with Oaknorth Bank OakNorth previously financed the business for six years, ahead of Red Oak moving to Hayfin in March 2022. Red Oak Taverns was founded by Mark Grunnell and Aaron Brown in 2011 and has…

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Portobello Starboard to expand amid Zetland Capital acquisition

London-based private equity firm Zetland Capital has secured a £40m loan to acquire and expand a portfolio of pubs operated by Portobello Starboard. The Portobello portfolio is made up of 17 freehold pubs located across London villages and suburbs and the South coast. After acquiring a loan from OakNorth Bank,…

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Inn Collection secures funding to support future growth

The Inn Collection has announced its plans for future growth after receiving a £42m loan from OakNorth bank. Established in 2006, Inn Collection Group develops contemporary inns, providing accommodation, food and drink to leisure and business customers. It is backed by Alchemy Partners, the British private equity firm which has…

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