East Coast Concepts, which was founded by entrepreneur James Hitchen and his brother Guy, currently operates the all-day eatery and late bar Neighbourhood in Spinningfields, Manchester which has recently undergone a £1m refurbishment and the East Coast inspired Victor’s, based in nearby Hale.
The investment will allow Hitchen and his team to fulfil their ambitious growth strategy, which involves rolling out the two concepts in city centres and suburban locations across the UK. The funding for the investment was provided by private equity firm NorthEdge Capital.
James Sheridan commented: “We have worked with James and Guy over the last year or so to position the business for growth, and it is great to see the deal with NorthEdge come to fruition. In Neighbourhood and Victors, the business has two proven concepts in the premium casual dining space which are now funded for roll out. Neighbourhood in Liverpool will come first, followed by others over coming months”.
“The team at Turner Parkinson has played a huge role in us taking the business to the level that we could attract private equity investment,” commented James Hitchen. “As well as supporting the business with its day to day legal needs, Turner Parkinson have been our lead adviser in what was a complex and challenging transaction at a pivotal time for the business. Having people like James Sheridan and his team working alongside us has made a massive difference and will continue to do so as we build the business across the UK”.