ETM Group secures £11m funding deal
For the year to 27 February 2022 ETM reported turnover of £21.6m compared to £6.8m in 2021 and a return to healthy EBITDA profitability
Sports and roof-top bar operator ETM Group Limited has secured over £11m in funding from alternative lender ThinCats.
The funding has enabled the ETM to refinance the entirety of its bank loans as well as providing “suitable” working capital headroom to underpin further growth.
ETM was founded in 2000 and has transformed from a group of gastro pubs, into a collection of “eclectic” venues across London.
The business has grown to 12 sites; including rooftop bar Aviary, premium sports pubs such as Greenwood and Redwood, as well as food-led pubs and restaurants such as The Jugged Hare and The Botanist Sloane Square.
For the year to 27 February 2022 ETM reported turnover of £21.6m compared with £6.8m in 2021 and a return to healthy EBITDA profitability.
Ed Martin, co-Founder and CEO, ETM Group said: “We remain optimistic about growth for the sector and are grateful to Dave and the ThinCats team for their support and commitment. This funding ensures we can continue to offer lasting experiences for our customers in unique and exciting venues in beautiful settings across the capital.”
Dave Sherrington, regional head of sales, ThinCats added: “ETM has an incredible collection of venues, recognisable brands that have fantastic reputations in London. We also believe in the management team and their ability to thrive in uncertain times, which is why we have backed them. They are now in a fantastic position to navigate the many challenges currently facing the Hospitality industry and we look forward to supporting them on this journey.”