Bowmark Capital, a medium market equity firm based in the UK expressed support for the financial expansion and management buyout of Drake & Morgan. Bowmark released a GBP30 million or $45.6 million financial support investment for the transaction.
London based Drake & Morgan is a bar-restaurant conglomerate which Imbiba Partnership and Jillian MacLean founded back in 2008. Imbiba Partnership is a specialist on bar and restaurant investment partnership, while Ms. MacLean is a renowned leisure entrepreneur with more than 20 years of experience in the hospitality industry. Their vision was to be able to create an original chain of bar-restaurants in London that had a female-friendly atmosphere, style and accessibility that offers a rare kind of whole day food and drinking experience. Since it opened its first bar, the company continuously grew and now aims to open other sites in the succeeding two years.
Under the agreement, John Connell of Imbiba will continue on in his position as the Chairman of Drake & Morgan while Mark Brumby and Simon Wheeler, Imbiba partners that would be holding a minority share together with Jillian MacLean and her management team.
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