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Tue 9th Jan 2018 - The Alchemist secures £16m investment
The Alchemist secures £16m investment: The Alchemist, which is backed by Palatine Private Equity, has secured an additional £16m finance package from existing debt-funders Santander to support its growth plans. The funds will be invested in continued innovation of the brand, rejuvenating sites and acquiring new ones. The Alchemist recently opened a purpose-built venue at MediaCityUK and a new regional site in Oxford, while it has since confirmed openings in Nottingham, Bristol and Cardiff for the year ahead. Established in 2010, The Alchemist has 12 venues across the UK and employs more than 700 staff. The Alchemist finance director Victoria Stewart said: “We’re thrilled to have received further funding from Santander – particularly in the current climate. While the sector certainly remains tough and competitive, we’re confident in our offering, our people and our vision. The phenomenal growth of the business in a short space of time has been made possible by the dedication, passion and talent of The Alchemist people, and I have no doubt they will deliver on our vision to grow the brand further across the UK and beyond.” Chris Thomas, of Santander, added: “The Alchemist has shown itself to be a great concept that benefits from a strong management team and experienced, supportive investors. Following on from our previous Growth Capital support, Santander is delighted to continue working with the company in its next phase of growth.” Palatine investment director Kieran Lawton added: “The Alchemist continues to be one of the leading performers in its sector and this additional financial support from Santander will allow the team to further develop the brand and concept.” Legal support to The Alchemist was provided by Pinsent Masons, while Addleshaw Goddard acted for Santander. Palatine Private Equity supported a buyout of The Alchemist from Living Ventures in 2015.

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