The private equity firm supporting Big Table Group has acquired pub chain Amber Taverns for an undisclosed amount.
Epiris completed the deal through its Epiris Fund III, which also holds investments in the funeral services company Pure Cremation.
Amber Taverns, founded in 2005 by CEO James Baer, operates 178 freehold, wet-led pubs primarily located in the North of England, the Midlands, Scotland, and Wales.
The company has seen steady growth by providing customers with premium live sports coverage and entertainment options like live music, karaoke, and interactive sports, including darts.
Baer said the deal was a “vote of confidence not just in Amber but in the sector as a whole.”
“We are excited to enter the next growth phase in partnership with Epiris, who invested the time and effort to understand our business and what makes an Amber pub. We are confident that they can support us in our ambitious expansion plans,” said Baer.
Among the selling shareholders is Michael George from the mid-market private equity firm MxP, who is also a founding shareholder of Amber Taverns.
Earlier this year, CityAM reported that Epiris had secured an exclusivity period to negotiate the deal, which could be valued at over £200 million.
Bill Priestley, managing partner at Epiris, said: “We are delighted to have the opportunity to work with James and his team to execute a strategy of investment and growth that will build on the fantastic platform they have created.”
Investors have poured millions into pub chains this year, with Stonegate securing a £250 million refinancing package from its private equity supporters, while RedCat Pub Company secured a £61 million refinancing deal.
Several major acquisitions have also taken place, including Fuller’s purchase of the Lovely Pubs group for £22.5 million in August.