Buzzworks Holdings, an Ayrshire-based hospitality group, secured funding from Cynergy Bank to support its growth plans.
The funding supports the refinancing of existing facilities, funding a management buyout, and providing capital for future acquisitions.
The aim is to expand the business to become a £100m plus Scottish family-run operation.
The deal enables Buzzworks to open new bar and restaurant sites, as well as venues that combine hospitality and accommodation.
Kenny Stewart, executive director Scotland at Cynergy Bank, said: “We’re delighted to support Kenny Blair and the team at Buzzworks as they start an exciting new chapter.
“Buzzworks represents exactly the kind of entrepreneurial, high-growth business we are proud to partner with.
“Our bespoke funding solution provides the flexibility and support needed to help them achieve their ambitious goals.”
Kenny Blair, co-founder and managing director of Buzzworks, said: “Our ambition is clear: to become a £100m+ Scottish hospitality business that brings people together and lifts the communities we’re part of.
“We’ll be creating new roles, welcoming new talent, and ensuring that the support and infrastructure are in place to help Buzzworks reach its full potential.
“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.”
Blair added: “We aim to more than double the size of the business and create hundreds of new sustainable jobs along the way.
“The next stage of the Buzzworks journey is about to begin.”
Funding was raised through Alchemy Partners, with West Coast Capital supporting the transaction as a key investor.
Sir Tom Hunter, founder of west coast Capital, said: “Cynergy delivered, effectively and efficiently to match the growth ambitions of Buzzworks.
“Combined with Alchemy I think we have the means to build a truly scaled hospitality business and we are very happy to continue to invest alongside the Blair family in Buzzworks.”
