PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Rockpool completes investment in Chicago Rib Shack

Rockpool Investments, the private equity investment firm headed by Nicola Horlick, has completed a first close of a planned GBP1.675m investment in Chicago Rib Shack, the fast casual dining restaurant founded and operated by Christian Arden.

 
The EIS-qualifying investment, which was taken up by members of the Rockpool Network and investors in Rockpool’s EIS portfolio service, will fund the opening of new restaurants across the UK.
 
The new Chicago Rib Shack format is based on operating barbecue-themed restaurants in UK shopping malls. The first unit opened in September 2011 in the “world food court” at Westfield shopping centre in Stratford, East London. A second unit has recently opened at West Quay, Southampton.  The next site to open will be in the new Trinity shopping centre in Leeds.
 
Rockpool recently announced the appointment to the board of Chicago Rib Shack of Rockpool Network members Stephen Thomas and Julian Coppock as non-executive directors.
 
Gary Robins, partner at Rockpool Investments, says: “Chicago Rib Shack has been immensely popular with our investors.  It is a profitable business with a really strong brand and a top class team in place to manage its growth, making this a very attractive investment opportunity.
 
“First and foremost, our investors have been attracted by the exciting growth potential of Chicago Rib Shack.  The fact that the investment also offers EIS tax reliefs is a real bonus. We are finding a strong growth in demand from investors for investments in individual private companies which qualify for EIS.”
 
Christian Arden, Chicago Rib Shack’s chief executive, adds: “Rockpool’s unique model made it the perfect fundraising partner for us because of the expertise and experience available through Rockpool’s network of Members. I am so pleased to be inviting Julian and Stephen to the board and am really looking forward to working with people of their calibre.”
 
Rockpool investors can still invest in Chicago Rib Shack as Rockpool plans to complete a second close on the investment in the next two months.

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured