Laines

In June 2014, Graphite Capital backed the secondary MBO of Laines in a joint venture partnership with Risk Capital Partners.

Graphite had previously led the successful expansion of InnBrighton, Laine’s predecessor. In June 2014, InnBrighton managed 45 pubs, 39 in Brighton and six in London. It was sold in a management buy-out backed by Risk Capital Partners and Graphite Capital’s fund management business, Graphite Enterprise Trust (now ICG Enterprise Trust). The company was renamed The Laine Pub Company (“Laine's”) as part of this transaction.  All pubs were individually designed to reflect the heritage and culture of the area in which they were located. The company targeted culturally discerning customers, attracted to the individualism of each of the sites. The management team had a wealth of experience in the pub sector which helped the company to outperform the market.  

Key Business Achievements

Continued to invest in its high-quality and very profitable pub estate in Brighton

Grew the London estate from six to 21 sites

Opened the Laine Brew Co., a brewery which produced high-quality craft ales and lagers for sale to the Laine's estate and to third-party trade  

Increased EBITDA by over 70% to £5.3 million

45

Pubs and bars in Brighton and London

Business Exit

In May 2018, Laine’s was sold to Punch Taverns, the owner of 1,300 pubs across the UK, in a transaction valuing the company at £40 million. The sale generated a multiple of 2.1 times the cost of the investment.