Rileys Secure Funding
HMT provided debt advisory services to Weight Partners Capital their recent fundraising. WPC secured senior debt funding from Triple Point Investment Management to inject into WPC’s portfolio business Rileys Sports Bars.
Rileys is a leading chain of sports bars and incorporates the oldest and only significant remaining chain of pool, snooker and darts clubs in the UK. It has large-format managed venues across the UK operating under the Rileys brand.
Rileys bars are large venues with multiple quality pool & snooker tables as well as darts lanes with the ambition to give their clients the best playing conditions in the towns in which they operate, all set in a relaxed and comfortable environment.
Rileys brings all live sports action to life by showing competitive sport on HD screens around the club, as well as offering a dedicated sports zone serving food with a large cinema-style HD projector. Competitive sport also happens within the clubs by hosting local and national pool, snooker and darts competitions including the Professional Darts Corporation Qualifiers.
Weight Partners Capital acquired Rileys in December 2014, rescuing it from administration.
After the successful refurbishment of Rileys’ South Benfleet, Liverpool and Harlow sites, the senior debt funding package provided by Triple Point will enable Rileys to refurbish further existing sites as well as acquiring new sites.
HMT provided debt advisory services to Weight Partners Capital on this transaction.
Odhran Dodd commented:
“We are delighted to have advised Jim Weight and the team at WPC on this fundraising for this iconic brand. Jim and his team have successfully turned around Rileys and the additional fire power provided by Triple Point will enable Rileys to realise its huge growth ambitions and become the clear market leader.”
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