Moorfield acquires stake in Shearings Group

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Shearings Group has secured additional backing from the Moorfield Real Estate Funds.

Moorfield first partnered with Shearings in 2006 when it completed an acquisition and leaseback of the Group’s hotels estate.

Under the terms of the latest transaction, Moorfield has invested an undisclosed amount for a significant minority shareholding in Shearings, with the management team retaining the majority following a buyout earlier this year.

The business has also enhanced its facilities with Lloyds Bank.

Shearings said the transaction concluded its recapitalisation and ensured it had the optimal capital structure for its continued growth.

Denis Wormwell, Chief Executive of Shearings Group, said: “Moorfield has been an important, long-term supporter of Shearings. Welcoming them on board as an investment partner enables us to align our interests around the continued expansion of the Group and ensure we have the best capital structure to deliver our growth strategy.”

Charles Ferguson Davie, Chief Investment Officer of Moorfield Group, said: “We see further potential in Shearings’ model and a clear opportunity to increase market share as consumer confidence recovers in the UK. We’re delighted to be supporting the business through this next phase of growth as a long-term partner.”

Moorfield is a UK real estate and related private equity fund manager, with some £2bn currently under management. It directly acquires single or multiple assets, or indirectly invests through corporate vehicles, including joint ventures. Moorfield says it supports entrepreneurial management teams that want to grow their real estate businesses or that want to take specific advantage of market opportunities.