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The Coaching Inn Group has secured a further £10m investment from Business Growth Fund (BGF) to support its £50m planned expansion across the UK.
The Lincolnshire-based business, which this weekend was named one of The Sunday Times Virgin Fast Track 100 ‘Ones To Watch’, currently operates 12 coaching inns and will use the additional investment to increase the size of its portfolio to 25 properties by March 2019.
The £10m injection follows an initial investment of £4.5m from BGF in March 2015, which helped the group purchase and operate an additional six properties.
With three acquisitions already in the pipeline and due for completion before early next year, the Coaching Inn Group said it is in a “strong position” to achieve its goal of 25 properties within the next two years.
Founder and CEO, Kevin Charity, said: “Having set a target of doubling the estate in five years, we’ve almost hit that target in less than two years. This latest investment from BGF is testament to the strength of our business model and we’ve now set even more ambitious growth targets.
“We now have a tried and tested formula and ultimately our goal is to acquire the right properties in the best locations, and sensitively restore them in line with the character of their local surroundings.”
