The Alchemist to push ahead with expansion plans
The company, which says it is on track to achieve revenues of £50m at the end of the financial year, opened its 16th UK site in London’s Shoreditch at the end of last month.
Founded in Manchester in 2010, The Alchemist, which was formerly part of the Living Ventures stable, was bought out by Palatine Private Equity in 2015 and has since seen turnover increase four-fold.
In January last year the group also secured a £16m funding package from Santander to continue its growth across the UK, and has since opened four sites including the one in Shoreditch.
The four new sites currently in the pipeline are at Brindleyplace in Birmingham, Gunwharf Quay in Portsmouth, and at Embassy Gardens and Canary Wharf in London.
“Working with private equity has really enabled us to achieve scale and build an infrastructure that supports a business of our size,” says Simon Potts, managing director at The Alchemist.
“Our growth has been very much down to identifying high performing sites across the big regional cities and establishing a presence in the capital, which has put the brand in front of an international audience.”
Potts also confirmed that the management team is now looking towards global expansion, with a view to begin targeting overseas opportunities in the next few years.
