Scottish hospitality business secures funding from Cynergy Bank
Ayrshire based Buzzworks Holdings has secured funding from Cynergy Bank to further support its growth ambitions. The award-winning Scottish hospitality group is embarking on the next stage of its journey to becoming a £100m+ family-run business, as it continues to grow its footprint across Scotland.
The funding provided by Cynergy Bank supports the refinancing of existing facilities, a management buyout and provides capital for future acquisitions. The investment will enable Buzzworks to add new bar and restaurant sites, as well as venues that combine hospitality and accommodation.
Buzzworks, which currently operates 22 venues and employs over 850 staff, has earned a strong reputation for quality, community focus, and innovation. As the business scales, it will continue to deliver the same high-quality customer experience that has earned it national recognition. This deal underpins Cynergy Bank’s presence in the Scottish market, demonstrating its commitment to supporting ambitious, high-growth businesses across the region.
Kenny Stewart, executive director Scotland at Cynergy Bank, commented: “We’re delighted to support Kenny Blair and the team at Buzzworks as they start an exciting new chapter. Buzzworks represents exactly the kind of entrepreneurial, high-growth business we are proud to partner with. Our bespoke funding solution provides the flexibility and support needed to help them achieve their ambitious goals.”
Kenny Blair, co-founder and managing director of Buzzworks, added: “Our ambition is clear: to become a £100m+ Scottish hospitality business that brings people together and lifts the communities we’re part of. We’ll be creating new roles, welcoming new talent, and ensuring that the support and infrastructure are in place to help Buzzworks reach its full potential.
“This deal gives us the momentum to move further, faster – investing in people, places and new formats including venues with rooms in more towns and suburbs across the country. We aim to more than double the size of the business and create hundreds of new sustainable jobs along the way. The next stage of the Buzzworks journey is about to begin.”
Funding was raised through Alchemy Partners and the transaction was supported by West Coast Capital who will remain a key investor.
Sir Tom Hunter, founder of West Coast Capital said: “Cynergy delivered, effectively and efficiently to match the growth ambitions of Buzzworks. Combined with Alchemy I think we have the means to build a truly scaled hospitality business and we are very happy to continue to invest alongside the Blair Family in Buzzworks.”