Growthdeck: Oh You Pretty Things


Oh You Pretty Things   |  Food & Drink   |    EIS
61%
Target £750,000 Raised £461,000
Equity 20% Target IRR 61.2%
Investors 23 Watchers 23

EQUITY    Closing date: TBC
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The Opportunity

Oh You Pretty Things Limited (OYPT) owns and operates a chain of Champagne & cocktail bars designed specifically for regional shopping centres & department stores. OYPT offers shoppers “a taste of the high life” with Champagne, cocktails, coffee and indulgent treats served at the bar with a sense of theatre, flair & personality.

OYPT already has bars at the Trafford Centre in Manchester, Metrocentre in Gateshead, Trinity Kitchen in Leeds and Lakeside in Essex. These locations have generated c.£250k EBITDA in the preceding 12 months. OYPT has signed a concession agreement with a major UK retailer to roll out eleven bars in its stores. The first bar is scheduled to open in the retailer’s flagship store on Oxford Street, London, in April 2017.

OYPT is seeking £750,000 of equity investment to fund the continued roll out of an already established and profitable champagne & cocktail bar chain. Investors will subscribe for equity in Oh You Pretty Things Limited, the holding company that exclusively owns the four current (and planned) bars.


Oh You Pretty Things - Trafford Centre


Progress to date:

  • First bar established in The Trafford Centre, Manchester, in 2011, delivering Year 1 profitability and subsequent year on year growth
  • Three additional sites were opened between August 2012 and November 2013 to comprise the four existing sites (see below) at major UK shopping centres which are trading successfully
  • Two further sites were opened in Scotland in 2012/13 at the request of shopping centre owners (one as a franchise), but due to changes in the licensing laws and poor client demographic, these were closed within 2 years. Experience in a challenging, price-sensitive Glasgow market has informed the site selection process going forward. New openings will target a high-income demographic

EBITDA Exit Multiple

x6

Investors exit multiple

x5.54

Investors target IRR

61.2%


View the financial projections »

Exit Scenario
  • Trade sale in 3-5 year time period most likely liquidity event (subject to performance in accordance with the plan)
  • Buyer assumed to pay 6 X PBT which could be achievable given scalable business model and predictability of earnings
  • Investors could generate a 60%+ IRR should the business develop as anticipated and the exit assumptions prove to be reasonable
  • Trade sale targets would include Whitbread, Compass, Tragus, Select Service Partners, The Restaurant Group, Eclectic Bars, Mitchell & Butler, Stonegate and WHG
  • In addition, OYPT could become attractive to private equity investors looking to capitalise on a scalable and proven multi-site business model. The private equity appetite for bar and restaurant chains with high growth potential is strong. Recent deals include Turtle Bay, Be at One, Loungers acquired by Piper Private Equity
  • Investors provided with some downside protection as subscription amounts (including premium) comes out first on a liquidity event, prior to excess proceeds being distributed in accordance with share ownership


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Offer name:Oh You Pretty Things

Website:www.oypt.co.uk

Address: Seebeck House
1 Seebeck Place
Milton Keynes
MK5 8FR

Company no: 10421283

Incorporated: 11/10/16

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