Employment Law Update: April 2019
Brachers advises Drink Warehouse on funding injection
Investment from Percipient Capital will support organic growth
Brachers’ Corporate & Commercial team, alongside a corporate finance team from accountants Kreston Reeves, has advised Kent drinks distributor, Drink Warehouse, over a funding injection from Percipient Capital. The investment will enable the business to continue its organic growth through geographic expansion, development of new and existing customers and the addition of new revenue streams, as well as facilitating two immediate acquisitions.
Drink Warehouse was established in 2010 by Mick Curtis and Demis Farley and has become the leading drinks supplier in Kent and surrounding areas. The company has been recognised in the London Stock Exchange’s 1000 Companies to Inspire Britain with other accolades including both Winner and Runner Up in recent Kent Mega Growth 50 awards.
Initially operating from a garage, with a single Citroen Berlingo van making multiple runs around the clock delivering to customers, the business has grown into a 32,000 square foot site in Ramsgate, servicing over 700 active customers. It has steadily expanded its product range, which started out as solely packaged beer and now includes keg beer, premium spirits and wines.
Percipient Capital is a leading independent provider of private equity and venture capital to small and medium sized businesses. Over the last 15 years they have supported more than 60 companies to fulfil their ambitions.
Mick Curtis, Managing Director of Drink Warehouse, commented:
“We would like to thank our advisors Brachers and Kreston Reeves for introducing us to Percipient Capital and guiding us through the process. Both Demis and I started with an ambition to supply the ‘ontrade’ with service levels and a range that couldn’t be matched. From the beginning we made the customer our focus. We stated the business with the strapline ‘A Fresh Approach to Drink Wholesale’ and have built a trusted brand in Kent. With the support of Jason and Ed we will ‘SET THE BAR’ that others will have to match across the country.”
Jason Gould, Director of Percipient Capital, noted:
“We are thrilled to support Mick and Demis with their ambitious plans to develop Drink Warehouse, both through acquisition and organic growth. From our very first meeting we were most impressed by the knowledge. drive and enthusiasm of the team. Taken together with their impressive track record to date, it was an easy decision for us to invest. The proactive support of the advisors and lawyers enabled us to pull together very quickly what was a complex transaction comprising our investment and two back-to-back acquisitions., We are very much looking forward to actively supporting the team over the coming years.”
Matthew Simmonds, Corporate & Commercial Partner at Brachers said:
“I am delighted for Mick, Demis at the team at Drink Warehouse UK Limited on the successful completion of the investment into the business by Percipient Capital. The business has grown at an incredible rate over the past few years due to the team’s tireless commitment and exceptional service to its clients. The investment and support from Percipient Capital will allow the business to grow still further and we look forward to continuing to be part of that journey.
Congratulations also to Jason, Edward and the team at Percipient Capital, who took the time to really get to know the Drink Warehouse business and delivered their investment quickly with the support of its advisors.”
Jack Clipsham, Kreston Reeves Partner said:
“Working with Mick and Demis has been a great pleasure. They have built an impressive business, with an exceptional service delivery team and created a strong platform from which to continue to expand. Jason Gould of Percipient quickly saw the potential and together with Ed Farquhar immediately built a strong rapport. With the professional efficiency of both sets of lawyers, the transactions were completed with the minimum of disruption to the business.”
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