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Bar group ETM secures £10m to fund expansion

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Bar group ETM secures £10m to fund expansion

London bar and restaurant group ETM has secured a £10m funding package from HSBC to support its growth plans.

The group, whose venues include the Botanist Broadgate, Greenwood at Nova in Victoria and rooftop destination Aviary in Finsbury Square, has announced plans for significant expansion over the next five years.

It will open a new site called Maple in Westfield White City this summer and already has two further openings planned for the financial year.

Ed Martin, co-founder and CEO of ETM, said: “We are very excited about the next phase of growth and, with HSBC’s support and financial backing, we will be able to develop and roll out new, innovative, experience-led concepts at a faster rate.

“Our focused approach to acquisition has already set in motion a platform for scalable expansion as evidenced by Aviary (Finsbury Square) and Greenwood’s (Victoria) first year of successful trading and the encouraging early performance from our new City bar, Broadleaf. This funding package, sourced and arranged by ETM chief financial officer, Landen Prescott Brann, will allow us to expand more rapidly and we look forward to working with HSBC.”

Mark Frettingham, HSBC’s area director in London West End, said: “We’ve been hugely impressed with the rapid growth and strategic acquisitions of ETM to date and can’t wait to see what’s next for this exciting brand. The new £10m deal, led by relationship director Neil Treadaway, will enable ETM to open more locations in London, bringing its passion and expertise in hospitality to even more customers across the capital.”

ETM restaurant group to launch new restaurant and bar in White City>>

Infrastructure rejig sees ETM revenue jump 12%>>

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