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BGF exits investment in The Coaching Inn Group

BGF News 08.16.2021

BGF has announced a successful exit of its investment in The Coaching Inn Group, which operates 18 hotels in traditional market towns across the UK. The business has been acquired by RedCat Pub Company, an investment vehicle which provides funding to the UK pub sector.

Headquartered in Boston, Lincolnshire, The Coaching Inn Group was founded in 1996 by CEO Kevin Charity. The company restores historical properties in line with the character of their local surroundings. It has built a strong reputation in the industry for transforming high quality coaching inns through the introduction of its premium casual dining brand, the Eatery & Coffee House.

 BGF backed the group with an initial £4.5 million investment in 2015, before providing follow-on funding of £10 million a year later to support a planned £50 million expansion across the UK. In the last six years, The Coaching Inn Group has significantly expanded its portfolio, acquiring 11 sites. These include The Rutland Arms in Bakewell, The Golden Fleece in Thirsk and The Three Swans in Hungerford.

BGF’s Birmingham team backed The Coaching Inn Group in 2015 to support its planned multi-million pound expansion across the UK. During this time, the company has gone from strength to strength and substantially improved the profitability of every site thanks to a strong and energetic management team, which has extensive experience in the hotel and hospitality market.

Gurinder Sunner, head of BGF in the Midlands

“We’re extremely proud to have supported the company in helping to accelerate the growth of the business and wish the team all the best on the next exciting stage of their journey.”

As part of the sale, Kevin Charity will continue to lead and run the business within RedCat, which provides the operational expertise and capital investment to quality retail and tenanted pubs, as well as pub hotels. It recently acquired 42 pubs across England and Wales from Stonegate Pub Company.

Kevin Charity, CEO of The Coaching Inn Group, added: “We have created a tried and tested formula, acquiring the right properties in the best locations and sensitively restoring them in line with the character of their local surroundings.

The investment from BGF has enabled us to achieve our growth plans without financial distractions or cash flow restrictions. Through the team, we have also met a number of high calibre senior people within the hospitality sector who have provided insight and guidance to our plans – this type of strategic support has been invaluable in helping us achieve our aims over the last six years.”

Equity funding in the Midlands

BGF provided growth capital to 12 businesses in the first half of the year. £28 million supported investments into new companies joining the portfolio and more than £23 million of follow-on funding for existing portfolio businesses. If you think we could help you, please get in touch.

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