The Shire Group Limited has completed the latest stage of its ambitious growth plans with the acquisition of Maddison Bistros Limited.
The Shire Group, whose head office is based in Corbridge, Northumberland, was established in late 2005 by director shareholder Paul Lilley to acquire Pastiche Bistro Limited, a restaurant chain in the Midlands.
The acquisition of Maddison Bistros, which offers modern European cuisine, traditional English dishes, and recipes from China, sees the company extend the geographical scope of its operations to Bath in the South West of England.
Lilley is looking to complete the further acquisition of a Staffordshire-based restaurant operator later this month.
It is anticipated that this will be followed at the end of September by the acquisition of a large chain of restaurants in the North of England.
The Shire Group’s team of advisers comprises the corporate finance team at Richardson Hall Kennedy, and Robert Muckle Solicitors. Barclays’ Licensed Trade team, based in Birmingham, is assisting with funding for the transactions.
Lilley is delighted with the progress made by The Shire Group since its inception. “We have an aggressive, but well thought out business plan,” he said. “To date, everything has gone according to plan. These acquisitions will give the company important critical mass, but are by no means the last of the deals we have in our sights.”
Tony Edwards, Corporate Finance Partner at RHK, was delighted with The Shire Group’s latest deal. “Paul currently has significant involvement on the operating side of the business, so is heavily reliant on his advisers to get these deals done with the least possible interruption to his own busy schedule,” he commented. “Thanks to a great team effort, the Maddison Bistros deal completed in a smooth and timely fashion. The challenge is to complete future deals in the same efficient manner.”
Steve McNicol, Managing Partner at Robert Muckle, is also keen to keep the momentum going, adding: “The Shire Group is a dynamic young company. It’s exciting and rewarding to be involved in a company at this stage in its development and we want to do everything we can to help it achieve its goals.”
RHK are registered by the Institute of Chartered Accountants in England and Wales to carry out company audit work. RHK Corporate Finance LLP is registered in England and Wales as a Limited Liaibility Partnership (Registered No. OC308294)
