Camerons secures refinancing to support growth
The Hartlepool-based business agreed a refinance and new funding package with Sandton Capital Partners and Independent Growth Finance.
Sandton is a London and New York-based investment fund provider while IGF is an independent lender from the UK.
The comprehensive financial package includes the refinancing of existing debt and the provision of new working capital.
Sandton investment manager Toby Bundy said: “Camerons Brewery has a long trading history with a strong profit and loss supported by an excellent management team.
“The team has exciting plans to grow the business, invest in [the group’s] current pubs and expand the estate."
Company ambitions
Bundy added: “We are delighted to support its ambitions and look forward to the continue expansion and development.
“It’s our priority to provide capital solutions to quality UK businesses in order to help them realise their ambition and Sandton is pleased to be working with such an established brand in the north-east.”
Camerons Brewery is a family-owned and managed business that was acquired by David Soley in April 2002 and he remains the chairman.
It comprises a brewery arm alongside an estate of 44 pubs and bars throughout the UK including Head of Steam and Urban Country Pub brands.
Financial strength
Chris Soley runs the business as the group’s CEO. On the latest announcement, he said: “The business has performed well despite the challenges that hit our industry in recent years.
“Thanks to the funding from Sandton and IGF, which includes a competitive refinancing and working capital solution, we are now well placed to take the business forward again.
“The teams share our vision and support our investment in the infrastructure and expansion of both sides of the business.
“The investment demonstrates confidence in Camerons Brewery and recognises the financial strength of our business and our focused strategy for profitable growth.
“We are excited for what is head, seeking to grow our position as a leading contract brewer and invest in our existing pubs and open new locations in new cities throughout the UK.”
IGF director Richard Spielbichler said the business was pleased to be partnering with Sandton, Camerons and its teams.
He added: “The collaborative approach and shared vision for future expansion and long-term sustainability are exciting for the business and the wider industry, we look forward to supporting the journey and next stage of growth.”
Camerons disposed of its tenanted pub division with the sale of 27 tenanted pubs to FB Taverns in July last year, which was part of a strategic move to support growth across its brewery and managed pub division.
