ThinCats funding helps Wright & Bell acquire popular Soho restaurant
Wright & Bell, the London bar restaurant, has confirmed the purchase of Kingly Court bar restaurant, Whyte & Brown with support funding from ThinCats.
The two-storey restaurant, situated off London’s popular Carnaby Street, was originally launched in 2013 and has since traded strongly in Kingly Court. With a focus on contemporary, food, driven by Wright & Bell’s award-winning chef Richard Falk (former head chef at The Diary, ex-Gordon Ramsey Restaurants and D&D), the team plan to evolve the Kingly Court site, whilst pursuing further new sites in Central London.
Working closely with Wright and Bell and its parent owner Imbiba, ThinCats provided the required funding to complete the transaction. Through a flexible loan, Wright and Bell were able to finance the acquisition and source additional working capital to continue growing the business from the onset.
Simon Wheeler, CFO, Imbiba, said:
“ThinCats were an obvious partner for us. They are one of the leading alternative finance providers for growing and ambitious SMEs and they really understand the sector.”
Dave Sherrington, London and South East business originator at ThinCats, said:
“We were impressed by Imbiba and look forward to working with them on this project. They have unparalleled sector experience, a strong track record in the market and an investment team that genuinely understands leisure businesses.”
Sarah Clark, managing director of Wright & Bell said:
“Kingly Court is an extremely popular and vibrant destination in central London and presents us with an excellent growth opportunity. We are excited to be acquiring The White and Brown industry is such a thriving location. We look forward to evolving the offer and have a progressive vision of how this can sit within our portfolio and the current market place.”
The group already operate the Kitty Hawk and The Backroom Bar at South Place, Moorgate and are continuing to grow their presence across the London market.