HENDERSON LOGGIE’s corporate finance team has helped Bar Soba with its expansion plans as it gained a £3m Business Growth Fund (BGF) investment.
Greig Rowand (pictured), corporate finance partner at Henderson Loggie, said: “Bar Soba has been our client for many years and we are delighted they turned to us for advice on their expansion. In addition to assisting the company with financial aspects of business planning, due diligence, and tax advice on the deal structure, we also introduced BGF which brought both growth funds and sector expertise to the table.”
The investment will fund continued expansion of the business, preparing to open a further seven restaurants, initially in the North of England such as Liverpool, Manchester and Newcastle. The Scottish bar and restaurant chain currently has five outlets in Glasgow, Edinburgh, and Leeds.
Mohan Mansigani, formerly chief finance officer at Casual Dining Group, which includes brands such as Bella Italia, Café Rouge and Belgo, has been appointed chair.
Bar Soba Founder and CEO Brad Stevens launched the brand at the Edinburgh Festival Fringe in 1997 as a pop-up restaurant. The first permanent Bar Soba outlet was opened in Glasgow and has since expanded into Edinburgh and Leeds.
The restaurant serves South East Asian street dishes and cocktails, and is heading towards a £5m turnover this current financial year.
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting