The Boston-based business currently runs seven hotels across England. It plans to use the newly-raised capital to double this number across the next three to four years in a £20 million project.
Bulldog’s business model revolves around acquiring and revamping coaching inns across the country. Its annual sales now top £10 million – with the local trade and tourist food and drinks markets both heavily targeted.
This has seen the company named as one of the London Stock Exchange’s 1000 companies to inspire Britain in 2015. The list recognised businesses that are the fastest-growing and most dynamic in the SME space.
Irwin Mitchell advised Bulldog on the legal side of the deal, with Browne Jacobson and Claritas tax advising the BGF.
Bulldog Hotel Group MD Kevin Charity said the business has “ambitious plans for the next few years”.
“[These] are centred on finding and acquiring the right estates in the right locations, and sensitively restoring them in line with the character of local surroundings, he added.
“BGF’s investment means that we are able to pursue our growth plan without financial distractions or cash flow restrictions. Already, through BGF, we have met a number of high calibre, senior people within the hospitality sector that have been able to provide insight and guidance to our plans – this type of strategic support is invaluable.”
The BGF’s Mark Freer praised Bulldog’s “strong track record of substantially improving profitability at every site”.
“We are backing a strong management team, with plenty of energy and extensive experience in the hotel and hospitality market,” he added.