BOXPARK Gears Up For National Growth With Investment
— 9 Sep 2021, 16:17 by Tashia Cameron
We are excited to announce that BOXPARK has secured significant investment from leading mid-market private equity firm Lloyds Development Capital (LDC) to help accelerate our national expansion plans.
LDC will support BOXPARK’s management team and help the company to achieve its ambitions of rolling out circa. 10 new sites across the UK over the next five years.
The partnership comes after BOXPARK bounced back since reopening in April with record sales and strong like for like growth. We recently announced the launch of our new concept BoxHall which is set to open in Bristol next year and the business is on track to generate revenues of over £18million in the year to April 2022.
LDC is backing the existing management team, led by BOXPARK Founder Roger Wade, Simon Champion and Ben McLaughlin, with existing Non-Executive Director, John Leslie, becoming Non-Executive Chairman. Charles Dunstone has exited his involvement in the business.
BOXPARK was advised by KPMG (corporate finance advisor), Carpenter Box, BCLP and WBD for the investment deal.
BOXPARK CEO & Founder Roger Wade said: “After such a difficult 18 months in the sector, we have secured a new partnership that recognises our unique proposition and growth potential. It will enable us to accelerate the rollout of new sites in London and into major cities such as Bristol and Manchester.
“This is such an exciting time for the business as we approach our 10-year anniversary later this year and I am proud to have such an incredible team behind it who have all worked extremely hard with the added challenges of Covid-19.”
BOXPARK was founded in 2011 by Roger Wade and has evolved from being the world’s first pop-up mall to one of London’s most high-profile branded dining, leisure, and retail developments with three sites in Shoreditch, Croydon and Wembley.