Bar News

have been allowed to open, we have put a smile on our face and carried on ensuring that our customers have some sense of normality in a safe environment. We are excited about the opportunity to support the bar sector which has taken such a hit during the pandemic.

leading bar group focussing on brands positioned to thrive in the post-COVID 2020s. I’m delighted that LCC is our first acquisition. It’s a great business that I know very well – its model is proven, simple and replicable. LCC has continued to trade well when we have been allowed to open and we believe it has the potential for significant growth as we emerge from the COVID crisis. The company employs some incredible people and I am looking forward to working with them as we continue to grow the business together.

“Over the past decade, LCC has carved out its own niche in the capital’s cocktail scene as a place for people to drink amazing cocktails prepared by an award-winning team of bartenders, while in the middle of a party. Its strong performance despite the challenges, underscores its appeal to consumers’ desire for a safe, vibrant, party atmosphere and high-quality drinks.”

The majority of LCC’s current shareholders will roll their investment into the new vehicle, including LCC co-founder and head bartender JJ Goodman. Goodman commented: “I am looking forward to the next chapter for LCC. I believe this investment is going to help us to grow the business that I co-founded and enable it to reach its full nationwide potential. I’m so excited by our vision for Nightcap and LCC, which is why I’ve decided to roll over my shares.” January 2021 9

Allenby Capital is acting as nominated adviser and broker to Nightcap on the IPO, or initial public offering. The company is targeting a number of institutional investors for the IPO and retail investors will be able to participate directly in the IPO via the Primary Bid platform. The company plans to raise up to £6m of new money and is expected to have a post money valuation of at circa £13m, meaning it will be well capitalised to continue its expansion of LCC to 40 sites.

Of the wider objectives of Nightcap, Willingham added: “I couldn’t be prouder of being part of this incredible industry. We have had the worst of the worst thrown at us but when we

“We believe there is a unique opportunity brought about by market conditions for Nightcap, through targeted investment and our collective expertise, to develop and grow fundamentally sound businesses that have had a tough time, are under pressure and may not have sufficient capital to grow. We want to help them get back to doing what they do best – looking after customers, opening new sites, and giving great people meaningful careers and development opportunities. Ultimately we want to help create more fantastic venues for customers to embrace and enjoy as we emerge from the Covid crisis.”

Retail investors can access the Nightcap IPO offer page via Primary Bid at and more information is available at the Nightcap website:

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