A North Wales craft brewery has set its sights on further expansion and business growth after receiving £150,000 in funding support.
Llandudno’s Wild Horse Brewing Co, which was established in 2015, secured a finance package from responsible finance lender, BCRS Business Loans, following an introduction by Bathgate Business Finance. The deal has assisted the company’s future growth plans, whilst also supporting renovation work and renewable energy solutions.
Wild Horse Brewing Co has focused on a period of investment, expanding to purchase a permanent tap room whilst also investing in solar panels. And with the tap room now attracting a growing customer base, whilst providing a venue for trade customers to sample the range of beers, in the space in which they’re brewed, the brewery sought to consolidate finance to move the business forward into the next chapter.
Emma Faragher, who set up Wild Horse Brewing Co with husband Dave, said:
“Last year we sold 444,000 pints of our beer, and the majority of sales come directly from pubs, but there were opportunities we wanted to take advantage of to further expand the business.
“We had run a pop-up taproom on and off for a couple of years, but with the brewing space expanding to cope with sales demand, we were short of space to continue in the same fashion. The tenant next door had been operating for over 40 years, so when the space came up for sale, we knew it was the right direction for our business and we needed to act fast.”
Wild Horse Brewing Co was put in contact with Bathgate Business Finance, which then introduced Emma and Dave to BCRS Business Loans’ Business Development Manager, James Pittendreigh. Working together, the brewery was supported with a £150,000 finance package from BCRS Business Loans, via the British Business Bank’s £130 million Investment Fund for Wales and Community Investment Enterprise Fund (CIEF).
Emma said:
“At previous junctions of the business, we had used our capital to allow us to purchase the site next door, in a timely fashion, we looked at other opportunities.
“After securing the taproom, we knew that there were opportunities to consolidate the finance we had in place and BCRS was fantastic and took the time to get to know the business and the journey we were on.
“Through the £30,000 funding from the Investment Fund for Wales, we’ve been able to carry out work to the car park area which has created more outdoor space for customers. This funding has been fantastic; without it, we wouldn’t have the same growth opportunities.
“The tap room is currently open Thursday – Sunday with ten rotating beers, and we’re looking forward to attracting more customers through the doors, both trade and individual.”
BCRS Business Loans’ James Pittendreigh said:
“Emma, Dave, and the team at Wild Horse Brewing Co have come a long way in a relatively short period, and we’re delighted to support them as they continue on their growth path.
“In supporting companies across Wales, we seek to work in partnership with our wider network, and this deal saw Willams Denton refer their customer to Bathgate, who in turn pointed Emma and Dave in the direction of BCRS.
“As a company, we look to support small businesses and make a positive social and economic impact. We are delighted that Wild Horse Brewing Co shares this community-based approach and has safeguarded all jobs in expanding the business further, and we wish them all the luck in the future.”
Bethan Bannister, Senior Investment Manager, Nations and Regions Funds at the British Business Bank, said:
“The Investment Fund for Wales exists to support aspiring companies with growth ambitions like Wild Horse Brewing Co, which require finance to help them scale. We wish their team every success as they continue to expand their operations and strengthen their brand.”
Ian Adams, Director at Bathgate Business Finance, added:
“With this finance package, Wild Horse Brewing Co will be able to capitalise on its already strong brand, growing reputation in its sector, and high-quality product. The finance in place will improve cash flow and assist with its continued expansion and social impact goals.”
Funded by Lloyds along with social impact investor Better Society Capital (BSC) and managed by responsible finance provider Social Investment Scotland (SIS) with contributions from the three participating CDFIs, BCRS Business Loans, Business Enterprise Fund and Finance for Enterprise, the £62 million CIEF aims to invest in 800 small businesses nationally and support 10,500 jobs.
The British Business Bank backed Investment Fund for Wales operates across the whole of Wales and includes a range of finance options with loans from £25,000 to £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up or stay ahead. BCRS Business Loans is managing the smaller loans part of the fund (£25,000 to £100,000). FW Capital are responsible for larger loans (£100,000 to £2 million) and Foresight manage equity deals (up to £5 million).
The Investment Fund for Wales helps to increase the supply and diversity of early-stage finance by providing options to smaller businesses that might otherwise not receive investment. Funding is designed to help businesses with activities including expansion, product or service innovation, new processes, skills development, and capital equipment.
