City of London venue The Brewery has its sights set on ambitious growth having secured what it calls a ‘pivotal’ debt facility from Blazehill Capital, a UK private credit fund.
Dating back to the 18th century, The Brewery occupies the site of the former Whitbread brewery on Chiswell Street. Brewing continued on the site until the 1970s, when it was transformed into a unique space for dinners and conferences. In 2004, it was acquired by Olympia, before entering private ownership.
CEO James Varah has been with the company since 2004 and has been instrumental in leading The Brewery’s growth journey. Under his direction, the business says it has seen turnover increase significantly with no drop-off in quality of delivery.
The pandemic tested the resilience of the events industry, and The Brewery says it was no exception. As an event-driven business, the 17-month shutdown due to government-imposed restrictions presented unprecedented obstacles. However, the company says its commitment to maintaining strong relationships with clients and a loyal workforce paid off, as it managed to retain its customers and reschedule the vast majority of existing bookings.
The new debt facility from Blazehill Capital will enable the team to ‘unlock The Brewery’s full potentia’l and continue providing unique event experiences for its clients, including Diageo, BAFTA, EDF and Tesco.
James Varah, CEO at The Brewery, said: “Our growth trajectory has been nothing short of remarkable, and it is a testament to the dedication of our team and the enduring appeal of our historic venue. It’s no secret that the pandemic had a huge impact on the events industry, but we’re now seeing a real resurgence, with customers keen to find opportunities to bring people together. With the support of Blazehill Capital’s funding, we are well-placed to take The Brewery to new heights and deliver on our exciting growth plans.”
Jake Hyman, Head of Originations at Blazehill Capital, said: “The Brewery has hosted many prestigious events so we’re proud to be able to play a role in supporting the iconic venue going forward. As the hospitality industry continues its recovery, having access to additional working capital can be transformational for businesses within the sector. With Blazehill Capital’s support, James and the team can now put the lockdown period behind them and return their full attention to delivering first-class events for The Brewery’s longstanding and loyal client base.”
Pinsent Masons LLP, led by Nick Gavin-Brown and Catherine Howe, provided legal advice to Blazehill Capital. Collateral due diligence was provided by Christie & Co and Ince Corporate Finance supported The Brewery.