ETM bar group receives £11m from ThinCats

ThinCats has provided over £11m in funding to ETM Group Limited, which operates sports and roof-top bars across London.

The funding from the lender, which specialises in small to medium-sized businesses, has enabled ETM Group to refinance all of its bank loans and seek opportunities for growth.

ETM Group was founded in 2000 and has since expanded to 12 sites, including Aviary in the City of London, Redwood in London Bridge, and the Botanist Sloane Square.

For the year to 27 February 2022, the Group reported a return to EBITDA profitability and turnover of £21.6m, compared to £6.8m in 2021.

Ed Martin, co-founder and chief executive of ETM Group Ltd, said: "We remain optimistic about growth for the sector and are grateful to Dave and the ThinCats team for their support and commitment. This funding ensures we can continue to offer lasting experiences for our customers in unique and exciting venues in beautiful settings across the capital."

Dave Sherrington, regional head of sales at ThinCats, added: "ETM has an incredible collection of venues, recognisable brands that have fantastic reputations in London. We also believe in the management team and their ability to thrive in uncertain times, which is why we have backed them.

"They are now in a fantastic position to navigate the many challenges currently facing the Hospitality industry and we look forward to supporting them on this journey".

It comes after ThinCats provided £2.5m in growth capital to arcade bar operator NQ64 this August.