BGF cash injection of £10m to accelerate Coaching Inn Group's growth

05 December 2016 by Janet Harmer

The Coaching Inn Group has secured a further £10m investment from the Business Growth Fund (BGF) to support a £50m expansion across the UK.

Based in Boston, Lincolnshire, the company currently operates 12 coaching inns and intends to use the capital to grow to 25 properties by 2019.

The last cash injection follows an initial investment of £4.5m from BGF in March 2015, which helped the Coaching Inn Group acquire an additional six properties. A further three acquisitions are due to be completed in the next few weeks.

Kevin Charity, the company's founder and chief executive, said that the company had almost hit its original target of doubling in size within in five years, in less than two years.

"This latest investment from BGF is testament to the strength of our business model and we've now set even more ambitious growth targets," he explained.

"The investment from BGF means that we are on track to achieve our growth plan without financial distractions or cash flow restrictions.

"We now have a tried and tested formula and ultimately our goal is to acquire the right properties in the best locations, and sensitively restore them in line with the character of their local surroundings."

Located in historic venues, including the Talbot Inn (pictured) in Oundle, Northamptonshire, the Coaching Inn Group incorporates the Eatery & Coffee House casual dining brand.

In its latest financial results for the first six months of the year, the company doubled EBITDA and grew turnover by 33% to £8.4m. Like-for-like sales increased by 5.8%.

At the weekend, the Coaching Inn Group was named as one of The Sunday Times Virgin Fast Track 100 Ones To Watch businesses.

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