The business operates 14 outlets nationally under five brands - The Botanist, The Oast House, Smugglers Cove, The Trading House and The Club House - and employs more than 900 people. Each concept offers traditional cask and craft beers, innovative cocktails, an all-day menu of homemade food including the celebrated ‘hanging kebab’ and live music.
LDC originally invested £2.7million for a minority stake in NWTC in 2013 through the Hill Capital Food & Beverage Fund, which was set up to back early stage food and drink concepts.
NWTC was founded by the late Tim Bacon and Jeremy Roberts as part of the Living Ventures Group, opening its first outlet in 2011. It was spun out in 2013 as part of the transaction, with Living Ventures remaining a significant shareholder, alongside management and LDC and Hill Capital Partners LLP.
In 2016 NWTC hailed exceptional trading across its sites after group turnover almost doubled to £17.1million (year ending March 2015), up by 83% on a year earlier. Pre-tax profits increased by 22% over the same period. Since 2013 the business has opened 12 outlets.
In June 2016 LDC exited its investment in NWTC in a £50m sale to Graphite Capital. The sale generates a 6.1x money multiple and IRR of 80% for LDC
LDC has been an important part of our growth story over the last three years, supporting our expansion from two to 14 outlets, and backing our vision for the business. We're excited to be building on that success with Graphite in the years ahead.Chris Hill, Chief Executive of NWTC