Popular vodka bar revolution in stock market return

Reports have suggested that the parent company of Revolution, the North West chain of popular vodka bars could be making a return to the stock market.

Sky News’s, private equity firm Alchemy Partners acquired Revolution group owner  The New Inventive Bar Company, under its previous name, Inventive Leisure, in 2005 and is now thought to be close to appointing Numis Securities, an investment bank, to work on the listing.

The Ashton-under-Lyne-based company operates a number of other leisure concepts including Rift & Co under its Nightjar Bars division. It also has a small chain of rum bars under the brand Revolucion de Cuba with sites in Liverpool and on Peter Street, Manchester.

There are around 66 Revolution bars across the UK, concentrated in major cities including London and Manchester, and targeted at consumers aged between 18 and 35.

Alchemy launched a £42.5m agreed takeover of Inventive in December 2005, when the company’s shares traded on London’s junior AIM market.

After interest payments the company made a post-tax loss of £3.44m in the year extending to 30 June last year, according to accounts filed at Companies House.

Inventive is run by Mark McQuater, a leisure industry veteran who previously led businesses including the Barracuda Pub Group and Tom Cobleigh. Sky sources said a deal could value Inventive Leisure at somewhere in the region of £100m, although a previous attempt to sell the business is not thought to have attracted offers at that level.

In an earlier interview with eatoutmagazine, Mr McQuater commented on the future of Inventive Leisure saying:

“Inventive is a really interesting business that is capable of a higher level of performance and growth. We ended the year turning over £111m and we continue to grow rapidly.”

Alchemy, Inventive and Numis have yet to comment on the business’s future in the stock market.

Source: The Business Desk
Words: Daniel Pearce

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