BIMBO for banqueting Mecca Berties
ONE of the best known banqueting operations in the region has undergone a buy-in management buy out (BIMBO).
The deal for Berties of Elland, which was founded more than 30 years ago, sees founder Brett Woodward selling a stake to local businessman Nigel Denham, who will work alongside long-serving management team Mike Swallow and Rebecca Shaw.
Mr Woodward will remain on board as a significant and active shareholder following the BIMBO and the business is now looking to expand and acquire an hotel.
HSBC in Huddersfield provided funding for the deal.
Pictured above standing are Stephen Oakes and Cheryl Largue of Chadwick Lawrence with Graham Hallam of HSBC with, seated, Brett Woodward and Nigel Denham.
Law firm Chadwick Lawrence advised on the deal led by Steven Bonfield, head of the firm’s corporate division, and partner, Cheryl Largue, who oversaw the property side of the deal. Funding was provided by the Huddersfield branch of HSBC.
Mr Swallow and Ms Shaw have 40 years service between them in the business which started life as Berties Bistro which was launched by Mr Woodward when he returned to his Yorkshire roots from London where he worked at the Savoy Hotel.
Over the years, the business has evolved and in 1988 Berties Banqueting Rooms opened its doors for business and since then has become a renowned venue. Over the past 20 years, it has developed into three banqueting rooms including the Crystal Ballroom, the Rennie Mackintosh Room and Number One Brook Street Room.
Berties also has a thriving outside catering division which Mr Woodward will be devoting his time to, focusing on larger occasions including future events to be held at Carr Hall Castle – a £3.7m turreted property near Halifax which recently won Channel Five’s ‘I Own Britain’s Best Home’.
Mr Woodward said: “Nigel and I have known each other since childhood and, over the years, have worked together on catering projects with Nigel’s company on the wines and bars and Berties on the food. I remain firmly committed to the business and our complementary skills, including Nigel’s business acumen, gives us the opportunity to plan an exciting future including exploring the possibility of purchasing a hotel.”
Mr Denham is an ex-Yorkshire County golfer and former non-executive director and shareholder of Bradford Property Trust.
He said: “Investing in Berties is a natural progression as I was looking to add to my property portfolio and the business also dovetails well with my interest in the wine and drinks trade.”
Chadwick Lawrence senior partner Stephen Oakes said: “We have enjoyed a long, professional relationship with Nigel and also held many of the firm’s corporate events at Berties. We are delighted to have been able to serve Nigel with our expertise and look forward to continuing to work with Berties in the future.”
