The private equity firm backing Big Table Group has bought the Amber Taverns pub chain for an undisclosed price.
Epiris implemented the transaction through its Epiris Fund III fund, which also has investments in funeral service company Pure Cremation.
Founded in 2005 by managing director James Baer, Amber Taverns operates 178 free-standing, wet-managed pubs based mainly in the North of England, the Midlands, Scotland and Wales.
The company has grown steadily by providing customers with premium live sports broadcasts and entertainment options such as live music, karaoke and interactive sports including darts.
Baer said the deal was “a vote of confidence not only in Amber but in the industry as a whole.”
“We are excited to enter the next phase of growth in partnership with Epiris, who took the time and effort to understand our business and what makes Amber a pub. We trust that they can support us in our ambitious expansion plans,” said Baer.
Among the selling shareholders is Michael George of mid-cap private equity firm MxP, who is also a founding partner of Amber Taverns.
Earlier this year, CityAM reported that Epiris had secured an exclusive period to negotiate a deal that could be worth more than £200m.
Bill Priestley, CEO of Epiris, said: “We are delighted to have the opportunity to work with James and his team to deliver an investment and growth strategy that builds on the fantastic platform they have created.”
Investors have poured millions into pub chains this year, with Stonegate securing a £250m refinancing package from private equity investors, while RedCat Pub Company secured a £61m refinancing deal.
A number of major acquisitions have also taken place, including Fuller’s purchase of the Lovely Pubs group for £22.5m in August.
