Abergavenny-headquartered Coach House Inns has acquired the Longs Arms in Steeple Ashton, Wiltshire.
A six-figure funding package for the deal was provided by HSBC with James Mugleston and Paul Duggan of Blake Morgan having advised HSBC. It is Coach House Inns’ first acquisition this year and its fourth in total, and forms part of the company’s ambitious acquisition strategy.
The Longs Arms in Steeple Ashton, which has been owned and managed by private landlady Caroline Quartley for the last 13 years, dates back to the 17th century. The pub includes a restaurant and adjoining residential cottage.
In the medium-term, the business hopes to enhance the pub’s accommodation and add an extension to increase restaurant capacity and house a new kitchen.
Coach House Inns founder Harry Lewis said: “The Longs Arms is an integral part of the local community and I’m delighted to have acquired the business with the support of HSBC, which continues to back our growing portfolio of gastro pubs. In turn our bank need to rely on expert legal services in their interest and I am aware that Blake Morgan have acted for HSBC in all of our acquisitions.
“I look forward to working with Caroline, who will continue to manage this outstanding local pub. We’re absolutely committed to bottling up and maintaining the pub’s charm and atmosphere for those who know it best.”
Warren Lewis, HSBC’s head of corporate banking in South Wales, said: “We’ve been supporting Harry over the last two years with his strategic acquisition plans, which have seen his portfolio of brilliant pubs grow to four in just a few years.
“It’s great to have agreed this new facility, led by our relationship director Mike Kear, which will give Harry the chance to put his stamp on this historic building while retaining its tradition and unique style. We are very grateful to the team at Blake Morgan for their usual pragmatic and helpful advice in getting the deal over the line.”
Paul Duggan, senior associate with Blake Morgan added: “Coach House Inns is a growing collection of boutique pubs with rooms, located principally along the English/Welsh borders. The group plans to put in place a small, central team to relieve individual pubs of the time-sapping administrative tasks that can overwhelm management, allowing the on-site staff to focus on delivering great food, clean, comfortable rooms and great customer service. It has been a pleasure to advise HSBC on their investment in this exciting venture.”
Blake Morgan has an enviable reputation for building lasting relationships with businesses and the people who run them. The corporate team is acknowledged within the legal industry and in the independent legal directories, for providing a first-class level of service across a wide range of transactions including mergers, acquisitions, sales, private equity and joint ventures.