Arc Inspirations secures £19m investment
Arc Inspirations is set to accelerate its growth after securing a £19m investment from BGF.
Bar operator Arc Inspirations is set to accelerate its growth after securing a £19m investment from growth capital investor BGF for a minority stake in the business.
The capital will give the Martin Wolstencroft-led business the ability to double its estate over the next few years by opening multiple bars in major UK cities, deploying its ‘cluster’ strategy.
The investment will pave the way for an accelerated rollout of its three brands Banyan Bar & Kitchen, BOX and Manahatta. It will also support the company’s ambition to double the business from its current 18 venues, delivering at least four new site openings per year over the next three-to-five years.
“We’re absolutely delighted to have secured this investment from BGF who are committed investors with a track record of supporting growth and success in the hospitality and leisure sector," says Wolstencroft. "This funding will enable us to expand our business significantly, allowing us to take advantage of substantial market opportunities over the next few years, as we take our winning brands to more key cities across the UK.”
The deal marks the first time Arc has introduced external investment to the group. Its expansion to date – since Wolstencroft and co-founder Chris Ure launched the business in 1999 – has been funded by the business and more recently through a renewed partnership with HSBC.
Wolstencroft, Ure and managing director Anni Opong remain significant shareholders in the business.