LGV Capital has backed the secondary management buy-out of Amber Taverns.
Private equity firm LGV Capital has backed the secondary management buy-out of the pub group Amber Taverns.
The deal, which was for an undisclosed sum, saw the existing management team invest alongside LGV.
Lancashire-based Amber Taverns was founded in 2005 and operates 56 pubs across the North West and North East.
Clive Preston, Amber Taverns’ chairman, comments: ‘Our policy of purchasing carefully selected distressed or closed pubs in busy locations in the North of England and then making a significant investment in refurbishing them has been hugely successful. We add further value by featuring key sporting events on big screen TVs, and by selling premier brands at realistic prices.
Amber Tavern’s management aims to double the size of the business in the next three to four years.
London-based LGV invests in sectors including healthcare and leisure, and the current deal is the firm’s fourth investment in the pub sector.