Kenny Blair, Co-Founder and Managing Director has led a family management buyout at Buzzworks. He will take control of the family business continuing with its mission to become a £100m+ Scottish hospitality company.
The family bought their first pub The Tower Inn in Kilwinning in 1978. But it was the opening of Elliots in 2002 in Prestwick which really set the business on its current trajectory with siblings Colin (68), Alison (66) and Kenny (55) establishing Buzzworks as one foremost hospitality businesses in the country.
Its successful formula of bringing great hospitality venues to Scotland’s towns and suburbs has created a business with 22 venues across East, West & Central Scotland a turnover in excess of £35m and more than 800 staff.
It’s brands include Scotts, House, Lido, Vic’s & The Vine, The Duke, The Bridge Inn, The Fox, Herringbone and Thirty Knots.
Kenny Blair, Co-Founder and Managing Director, said, “A life’s work has gone into making Buzzworks what it is today, and our family couldn’t be prouder of what we’ve achieved. However, our job isn’t anywhere near done and we’re as passionate about it now as we were 40 years ago.
“Along with my brother and sister, we’ve tried to stay true to our mission of making people feel great through hospitality and that founding spirit will continue to drive us forward in this next chapter as we aim to more than double the size of the business and create hundreds of new sustainable jobs.
“This deal gives us the momentum to move further, faster – investing in people, places and new formats including venues with rooms in more towns and suburbs across the country. Our foundations are strong and we know exactly where we want to get to.
“The next stage of the Buzzworks journey is about to begin. The deal has been part of the company’s long-term succession planning and will see Colin and Alison remaining in the business in advisory roles ensuring their insights and values remain part of the company’s DNA.
The next chapter of growth is focused on investment in property, expansion in terms of sites and people, with plans to introduce new venues that will incorporate bedrooms as part of the offering. The commitment to growth and development will be fast tracked as part of the deal with three new senior hires joining the business and new positions created in the coming months.
Terms of the deal have not been disclosed. Funding has been raised through Alchemy Partners who have a successful track record in investing in hospitality businesses throughout the UK and Europe.
West Coast Capital will remain a key investor and Cynergy Bank will join as the new banking partner. The team at Buzzworks has been advised by Fraser Anderson and Rob Cockcroft of Sapient Corporate Finance.