Polestar advised on the successful debt financing for Zing Leisure Limited, Europe’s leading Burger King franchisee.
The team at Polestar, led by partner Charles Whelan, provided Financial Due Diligence for Clydesdale Bank. The deal introduced a debt facility to Zing to allow the company to develop further as it capitalises on Burger King’s strategy of increasing the number of franchised outlets in the UK
Essex-based Zing Leisure operates 21 restaurants across the south east of England, Cornwall and the Midlands, including Burger King’s flagship store in London’s Leicester Square. The company currently employs more than 400 people and has an annual turnover of £19m.
Django Fung, founder and driving force of Zing Leisure Limited, commented:
“It became clear during the course of the deal why Charles and his team at Polestar were appointed Corporate Finance advisors. They helped bring clarity to the transaction and understanding of the business.”
Stuart Trussler, Clydesdale Bank, also commented:
“Zing Leisure is an exceptionally strong, hardworking and entrepreneurial business. The franchise sector’s growth and contribution to the UK economy is clearly evident. The provision of facilities and financial flexibility to Zing Leisure is a clear statement of Clydesdale Bank’s desire to become a significant force within the franchise sector. It is a real privilege for Clydesdale Bank to engage with Zing Leisure at this stage in its development and we look forward to supporting the business as it continues along its growth path in the future.”
