NVM-backed Wear Inns makes further acquisitions

The takeover of The Colonel Prior in Sunderland and The Park in Bradford follows the acquisition of nine pubs from TCG Bars in July 2012.

Wear Inns, which now operates 26 premises and has completed its second phase of growth, received £10m of funding from NVM and the BGF in May this year. NVM previously backed the business with £3m in 2006.

Company
Established in 2006, Wear Inns buys and manages freehold community pubs across the North East and Yorkshire. All of its pubs are company managed and staffed but remain unbranded. The business is based in Billingham and employs a total of 305 staff. Its current turnover is £11.5m.

People
NVM director Mauro Biagioni and BGF investment director David Colclough worked on the deal.

Advisers
Company – Watson Burton, Duncan Reid, Paul Wigham, James Nightingale, Michael Shuker (Legal).

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• Topics
• Portfolio management
• UK / Ireland
• Consumer
• NVM Private Equity
• BGF (Business Growth Fund)
• United Kingdom