£1.1m boost fuels bar and restaurant group’s appetite for expansion
The British Business Bank’s South West Investment Fund has announced a £1.1m equity investment through fund managers Maven Capital Partners in bar and restaurant group Deckhouse to help fund further expansion.
The South West Investment Fund provides a mix of debt and equity funding from £25k to £5m to support South West smaller businesses at all stages of their development, with Maven managing the equity side of the fund in the north of the region.
Deckhouse is an independent cafe-bar and restaurant and prepares food fresh, on-site, serving from brunch to dinner. It also covers celebrations and events, including wine tasting and music evenings.
Originating in Gloucestershire and Somerset, Deckhouse’s strategy is to continue a targeted rollout of new sites. It was founded in 2022, and led by managing director James Spragg, previously CEO of the Big Table Group, and chaired by Mark McQuater, previously chief executive of Revolution and Barracuda.
The bar and restaurant market in the UK is competitive and has taken some hits in recent years, particularly following the COVID-19 pandemic, however, the market is now recovering at pace and is forecasted to be worth over £19.5bn in 2026.
Luke Matthews, partner at Maven, said: “We’re delighted to back Mark and James as they embark on their expansion. They are a hugely experienced senior team, and there is a window of opportunity now for well-priced high street bars and restaurants. Deckhouse is well positioned to capitalise on these opportunities, and we look forward to working with the business as it scales.”
Spragg added: “We are thrilled to have Maven’s support and funding through the South West Investment Fund as we set out to create something truly unique, fresh, and exciting for the high street. Deckhouse is a destination that thrives across all dayparts and brings a new energy to the local scene.”
Lizzy Upton, senior manager at British Business Bank, said: “We’re pleased to support Deckhouse’s growth as it expands its presence in the region. With a seasoned leadership team and a vision rooted in high-quality service, Deckhouse has great potential to thrive in the dynamic UK hospitality market.”
