Private equity firm Epiris has acquired Amber Taverns, which operates a network of 178 freehold, wet-led pubs, through its Epiris Fund III. Founded in 2005 by CEO James Baer, Amber Taverns has a portfolio primarily located in the North of England, the Midlands, Scotland, and Wales, focusing on a hybrid ‘operator-managed’ model.
Epiris highlights Amber’s growth strategy, emphasizing value for money across various leading drinks brands, premium live sports coverage, and diverse entertainment options including live music, karaoke, and interactive darts. Ian Wood, partner and head of the investment team at Epiris, notes that Amber’s commitment to value and service, along with its competitive pricing within community settings, has driven consistent growth and strong financial performance in the resilient pubs market.
Among the selling shareholders is Michael George from mid-market private equity firm MxP, who is also a founding shareholder of Amber Taverns. Baer expressed enthusiasm about entering this new growth phase with Epiris, praising their understanding of the Amber pub concept and their potential support for ambitious expansion plans. He added that Epiris’ investment underscores the resilience of well-invested pubs catering to local communities.
The Epiris investment team includes Ian Wood, Aaron Atwal, and Scott Forbes, with advice from Sapient Corporate Finance, Macfarlanes, CBRE, and PwC. Financing for the deal comes from Alpha Real and Ares Management funds. Amber Taverns received advisory support from Rothschild & Co, DLA Piper, Savills, and Alvarez & Marsal.
