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Mon 18th Mar 2013 - Breaking News - McQuater becomes new Inventive chief executive
Mark McQuater becomes new Inventive Leisure chief executive: Mark McQuater has been appointed as the new chief executive of Revolution vodka bar operator Inventive Leisure. Founder Roy Ellis steps down after 22 years leading the company – he remains one of the largest individual shareholders of the company and a board director. Ellis said: “It has been a pleasure and privilege to serve such a wonderful company for so many years. I look forward to welcoming our new chief executive Mark McQuater and obviously wish him every success. I intend to support him and all the other great people who make up the Inventive Leisure family into a long and successful future”. Mark McQuater was founder and chief executive of Barracuda Group from 2000 to 2012, prior to which he was managing director of Greenalls Pubs and Restaurant Division. His earlier sector experience included managing director positions at Tom Cobleigh and JD Wetherspoon as well as four years in a corporate development role with Scottish and Newcastle Breweries. Mark McQuater said: “Inventive Leisure is a great business with a strong quality market position. It has an excellent service culture with great people throughout the organisation. I look forward to working with the team and leading the business through into its next exciting stage of development.” Last year Inventive Leisure, owned by private equity firm Alchemy Partners , was withdrawn from the market after bidders failed to meet price expectations. Ellis told Propel at the time: “There’s been a sale process and a good number of offers but none of them were sufficiently attractive.” The latest set of accounts for Inventive show an exceptional item of £740,000 in relation to the costs of Inventive’s advisor in the process. The company which operates 63 Revolution vodka bars and four stand-alone Revolucion de Cuba venues reported underlying Ebitda of £13.8m in the year to the end of June 2012, up from £12.3m the year before but subject to the aborted sale process costs and a £1.3m onerous lease charge on a property in Chiswick. Turnover rose from £94,899,000 in the year to June 2011 to £109,090,000 in the most recent year. Operating profit dipped to £4,721,000 from £4,971,000.

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