Boxpark is set to accelerate its national expansion plans after securing new investment from mid-market private equity firm LDC.
LDC will support Boxpark's management team and help to accelerate the company's ambitions of rolling out new sites across the UK over the next five years.
LDC is backing the existing management team, led by Boxpark founder Roger Wade, Simon Champion and Ben McLaughlin, with existing non-executive director John Leslie becoming non-executive chairman. Sir Charles Dunstone has exited his involvement in the business.
Boxpark chief executive and founder Roger Wade said: "After such a difficult 18 months in the sector, we have secured a new partnership that recognises our unique proposition and growth potential. It will enable us to accelerate the rollout of new sites in London and into major cities such as Bristol and Manchester.
"This is such an exciting time for the business as we approach our 10-year anniversary later this year and I am proud to have such an incredible team behind it who have all worked extremely hard with the added challenges of Covid-19."
Boxpark was advised by KPMG (corporate finance advisor), Carpenter Box, BCLP and WBD.
The first Boxpark opened in London's Shoreditch in 2010 and now has three sites including in Croydon and Wembley. The group recently announced the launch of its new concept BoxHall which is set to open in Bristol next year and the business is on track to generate revenues of over £18m in the year to April 2022.