Maven Capital Partners backs Deckhouse Ltd’s expansion with £1.1m equity investment
The British Business Bank’s South West Investment Fund has announced a significant £1.1 million equity investment in bar and restaurant group Deckhouse Ltd, facilitated by Maven Capital Partners. The investment is aimed at supporting Deckhouse’s strategic expansion across the South West of England.
The South West Investment Fund offers a blend of debt and equity funding, ranging from £25,000 to £5 million, to assist smaller businesses in the region at various stages of development. Maven manages the equity investment side for businesses in the northern part of the South West, and their latest investment underscores their commitment to fostering regional growth.
Deckhouse, an independent café-bar and restaurant, draws inspiration from the relaxed and welcoming atmosphere of the Devon and Cornish coasts. Since its establishment in 2022, the business has gained popularity for its fresh, on-site prepared food and versatile offerings that span from brunch to evening events. With a focus on social connection, Deckhouse also caters for special occasions, hosting wine tastings and live music nights, making it a true community hub.
Founded by James Spragg, a veteran of the hospitality sector and former Chief Executive of the Big Table Group, Deckhouse is chaired by Mark McQuater, previously CEO of Revolution and Barracuda. Their leadership and experience provide a solid foundation for Deckhouse’s ambitious plans to roll out new sites across Gloucestershire, Somerset, and beyond.
Despite the challenges posed by the COVID-19 pandemic, the UK’s bar and restaurant market is rebounding strongly and is projected to exceed £19.5 billion by 2026. This revitalisation presents a prime opportunity for well-managed and innovative hospitality businesses to thrive. Maven’s investment reflects a belief in Deckhouse’s ability to tap into this potential.
Luke Matthews, Partner at Maven Capital Partners, expressed optimism about the partnership:“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.”
James Spragg, Managing Director of Deckhouse, spoke about the significance of the investment:“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.”
The British Business Bank echoed this sentiment. Lizzy Upton, Senior Manager at the Bank, remarked:“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."
This investment marks an exciting phase for both Deckhouse and Maven as they work together to transform high streets across the South West. With its strong brand identity and commitment to creating memorable experiences, Deckhouse is well-positioned to capture the renewed appetite for dining and socialising in the post-pandemic era.