Nick Campbell (Simmons) & James Knott (director at Lonsdale)
Private equity firm Lonsdale Capital Partners has snapped up London-based cocktail bar chain Simmons Bars.
Lonsdale Capital Partners has secured a loan from challenger bank OakNorth to fund the acquisition of Simmons Bars, a popular London cocktail bar chain with 12 sites across the capital.
Established in 2013, the Simmons chain now boasts bars in King’s Cross, Camden, Clerkenwell, Soho, Liverpool Street, Fulham and Balham.
The firm has been on an impressive growth trajectory over the last three years - opening nine of the 12 bars.
Nick Campbell, the co-founder and CEO, will continue to lead the business with the support of Lonsdale.
With Londsale’s support, the company intends to continue adding further sites across London, with the aim of expanding to over 30 bars in the short to medium term.
James Knott, investment director at Lonsdale Capital Partners, said: “Since our founding in 2009, our investment approach has been to back businesses operating in an attractive niche, with strong and ambitious management teams.
“Simmons is a perfect example of this – although it is a relatively young business, it has grown impressively over the past four years under the leadership of Nick Campbell and now boasts a well-located, profitable estate.
“In addition to this, it is positioned in one of the fastest growing leisure segments in the UK – one that is expected to be worth £608m by 2021.
“With this finance from OakNorth, we will be able to provide Simmons with the capital and expertise required to help it reach its full potential.”
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