The Company and Our Investment
In November 2009, Octopus invested £1.5 million from the £30 million Octopus Capital for Enterprise Fund into Coal Grill and Bar, a successful casual dining restaurant chain serving freshly prepared char-grilled food.
The Octopus investment will be used to finance additional new sites across the UK. Coal Grill & Bar currently operates restaurants in four locations (Wimbledon, Basingstoke, Sheffield and Bristol) and aims to open a minimum of four new restaurants in each of the next 2 years.
The company is currently in active negotiations on a number of attractive new opportunities to open next Spring. The investment from Octopus complements an existing investment made by Beringea in Coal and banking facilities provided by Barclays.
"This additional investment is great news for Coal and illustrates how Capital for Enterprise funding can be used to grow companies alongside existing private equity finance. This is an innovative step and the deal was completed swiftly and efficiently, thanks to Octopus' professional and constructive approach."
Stuart Veale, managing director, Beringea
