Drake and Morgan close to £30m management buy out backed by Bowmark Capital

22 April 2013 by
Drake and Morgan close to £30m management buy out backed by Bowmark Capital

Jillian MacLean, the founder of London-based bar and restaurant group Drake and Morgan, is close to completing a management buy out of her company with the backing of Bowmark Capital in a £30m deal.

The deal sees MacLean's initial private equity partners Imbiba Partnership exit the business.

Drake and Morgan currently has five London sites, including the Anthologist and the Folly, with two more, the Happenstance and the Haberdashery, set to open soon.

The support of Bowmark is expected to allow the business to expand further.

MacLean told the Financial Times: "With Bowmark's support and financial backing, we look forward to accelerating the rollout of the company, both in central London and in other locations."

Ron Pearson, a partner at Bowmark told the paper: "Drake & Morgan represents an appealing proposition for both customers and landlords and is led by one of the best management teams in the hospitality sector."

The deal is expected to close later today.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking