Niche corporate commercial law practice, Murrell Associates has advised long-standing client Hub Box Limited on two rounds of equity investment worth £3.2m.
Hub Box serves American style burgers, dogs and beers using locally sourced food and drink in relaxed urban inspired interiors. The business began in St. Ives and now has restaurants across the South West in St. Ives, Truro, St. Austell, Plymouth and Exeter.
The first investment round completed last October brought angel investors Mark Harper and Michael Wodskou on board and then in January this year, the company completed a second round which saw private equity fund Provenance Investment Partners commit further funds into the company.
The total investment around £3.2m will be used to help bring the unique Hub Box experience to more towns and cities across the country with the next Hub Box due to open in Bristol soon.
Award-winning restaurateur and co-founder Richard Boon said: “These investments represent an exciting step change in the growth of Hub Box. In addition to providing important growth capital we now have the benefit of boardroom experience from three highly experienced individuals, Mark Harper, Michael Wodskou and Provenance Investment Partners fund director Simon Henderson.”
New Hub Box Chairman, Mark Harper added: “I was impressed with the speed of response and professionalism of the team at Murrell Associates. They are always approachable, clear and very responsive.”
Henry Maples of Murrell Associates, who led on the transactions, said: “We were delighted to support Richard and the team at Hub Box on these investment rounds. Hub Box is a brilliant example of a creative Cornish business and we are really excited to see new Hub Boxes rolled out across the UK with the support of these angel and private equity investors.”