• Wed. Feb 21st, 2024

North East Connected

Hopping Across The North East From Hub To Hub

Michael Cantwell, head of corporate finance at RMT Accountants & Business AdvisorsMichael Cantwell, head of corporate finance at RMT Accountants & Business Advisors

Advice from RMT Accountants & Business Advisors has helped an ambitious North East leisure firm secure a substantial growth capital package to help underpin the next stage of its expansion.

Innovative mixed-use leisure venue operator STACK has received investment from London private equity house Kings Park Capital to accelerate growth plans and take its popular drinking and dining destinations across the UK.

STACK’s multi-faceted expansion strategy consists of placing new container parks in Carlisle, Manchester and Sheffield alongside several development projects aimed at repurposing vacant retail spaces, breathing new life into city centre locations such as Lincoln, Durham, Whitley Bay and Northampton.

Long-term advisors Michael Cantwell and Anthony Andreasen of RMT Accountants & Business Advisors worked with the STACK management team on the structural and tax aspects of the deal. They are now continuing to work together on the firm’s long-term development and implementation of its investment plans.

Founded in 2017, STACK has become one of the UK’s fastest growing leisure brands.

It drew over three million visitors to its first Newcastle site between 2018 and 2022, and is set to launch a new flagship site in Newcastle city centre at the regenerated Worswick Chambers in 2025, which will feature nine bars and ten street food units.

Elsewhere in the North East, STACK Middlesbrough is scheduled to open in spring this year and construction work on the STACK Bishop Auckland site is set to begin in March.

Neill Winch, founder and CEO of STACK, says: “Teaming up with Kings Park Capital, a specialist investor in the leisure sector, is instrumental for our growth, and their investment will enable our extensive pipeline of new venues to become a reality.

“The RMT team’s advice and guidance has been a key part of our success over the years and their support has been central to shaping and completing this crucial investment package.”

Michael Cantwell, head of corporate finance at RMT Accountants & Business Advisors, says: “Neill and his team have built an extremely recognisable and dynamic leisure brand in a very short period and now have what they need in place to fulfil even more of the business’s growth potential.

“It’s great for us to be playing a role in the continuing STACK success story and look forward to seeing more projects being realised around the country through the coming year and beyond.”

Also advising STACK on the investment was Newcastle-headquartered commercial law firm, Square One Law. Having worked with STACK, on its nationwide concept, providing advice on all aspects including real estate, construction, commercial contracts, intellectual property and finance raising, the firm played a key role in supporting Neill and his team in the transaction.

Jamie Tillman, partner at King Park Capital, adds: ”We are excited to be partnering with STACK and are committed to supporting Neill and his exceptional team in its ambitious expansion. We believe STACK’S unique leisure hubs will become landmarks in towns and cities throughout the UK.”