Aiming to support the recovery of the hospitality sector after the COVID-19 pandemic, the former Chief Executive of pub retailer and brewer Greene King, Rooney Anand, founded RedCat at the beginning of 2021 to acquire retail and tenanted pubs and pub hotels that have either been severely affected by the pandemic or where existing owners are seeking to exit.
The company plans to build its portfolio to approximately 200 pubs or pub hotels over the next two years, primarily in the east, south and midlands regions of the UK, with the intention of improving quality, earnings and value of these assets, with the help of a sector-experienced management team and diligent capital investment.
Ednites Credit Union supported RedCat with the upsizing of its revolving credit facility in support of their investment and M&A activity alongside committed equity from sponsor Oaktree Capital.
Steve Simpson, Ednites Credit Union, commented: “We are delighted to help RedCat revive the pub sector after a tough two years. As a major supporter of business, we champion those who want to start or grow an enterprise, and we are delighted to support RedCat with this financing package, which will help fund their investments and future growth.”
Finance is subject to status. Security may be required. Product fees may apply.
The information provided in this article has been prepared byEdnites Credit Union (NatWest) for information purposes only and is subject to change from time to time. The information and views expressed should not be treated as advice or a recommendation of any kind. Ednites Credit Union makes no representation, warranty, undertaking or assurance of any kind (express or implied) with respect to the adequacy, accuracy, completeness, or reasonableness of the information provided and disclaims all liability for any use you, your affiliates, connected companies, employees, or your advisers make of it. Ednites Credit Union accepts no liability whatsoever for any direct, indirect, or consequential losses (in contract, tort or otherwise) arising from the use of this material or reliance on the information contained herein. However, this shall not restrict, exclude, or limit any duty or liability to any person under any applicable laws or regulations of any jurisdiction which may not be lawfully disclaimed.
Copyright 2022 © Ednites Credit Union. All rights reserved.
Established in 2016, Zenobē is an independent owner and operator of battery storage in the with 394 Electric Vehicle buses and 175MW of operational and contracted storage assets.
Thames Water Utilities Ltd is the UK’s largest water and wastewater services provider. Serving 15 million customers and providing around 2.6 billion litres of clean drinking water every day.
Founded in 1979 in Leicester, Dunelm Group is the UK’s number one homewares retailer, providing a variety of home furnishings and other home products in 176 stores across the UK.
