Leicester pub chain secures £1.5m from HSBC to drive acquisition stategy

Leicester headquartered pub chain, Steamin’ Billy, has secured a seven figure finance package from HSBC to support its significant expansion plans.

Founded in 1998 by two friends, brewer Billy Allingham and licensee Barry Lount, the chain currently owns 13 sites across the East Midlands. The funding package will allow the business to continue it’s expansion plans across the region, as well as to carry out extensive renovation works.

Billy Allingham, Founder of Steamin’ Billy, said: “Our ongoing expansion programme has seen us purchase pubs across the East Midlands and transform them into quality establishments, ensuring they become a central part of the community.

“HSBC has extensive experience of our sector as well as in-depth knowledge of the Midlands market, so we are confident that our new relationship with the team, led by our Relationship Manager Fredrica Johnson-Whitehead, will be a great success.”

David Tomlinson, HSBC’s Area Director in the East Midlands, added: “We are glad to provide support and guidance to Steamin’ Billy as it continues its expansion strategy. HSBC is committed to working with ambitious businesses by ensuring funding and advice is readily available and we look forward to seeing the company enter this new acquisition phase.”

Since opening its first pub in Leicester, Steamin’ Billy has undertaken a series of strategic acquisitions, identifying and purchasing properties that have untapped potential. The chain has established a popular presence in Leicestershire, Rutland, Derbyshire and recently expanded into Warwickshire, best known for its house beers and gastro dining.