Nottingham based specialist coffee company, 200 Degrees, has received £3m funding from private equity investor Foresight Group, in a deal advised by Smith Cooper.
200 Degrees, founded in 2012 by Tom Vincent and Rob Darby, was created after a passion for coffee became an obsession in the pursuit of the perfect cup of coffee. Starting life as a garage enterprise, the company has gone from strength to strength.
200 degrees now has 6 coffee shops across the UK and supplies hundreds of wholesale customers with its ethically sourced, freshly roasted coffee. They also offer a barista school and a subscription scheme, and already have plans to introduce more coffee shops throughout the UK.
The investment came from leading independent infrastructure and private equity investment manager, Foresight Group. Foresight’s portfolio of fund management activities extends internationally, with specialist teams located in 3 continents.
Throughout the transaction, Smith Cooper provided assistance to 200 degrees in the negotiations with Foresight Group, and provided structural and financial advice to the shareholders.
Dan Bowtell, Partner at Smith Cooper who led the deal comments “200 Degrees is highly renowned locally, having established a reputable and ethical brand over the last 5 years. Foresight’s funding will help the company to develop further, potentially doubling both the workforce and revenue streams.”
He continues “The investment will provide the entrepreneurial owners with the financial backing they need to be able to grab every opportunity that comes their way. We were delighted to be able to support such a passionate and ambitious business.”
Nottingham based law firm Fraser Brown provided legal advice to 200 Degrees.