Deltic signals evolution not Revolution in 2018

Nightclub-owner Deltic Group has identified Glasgow as a target for a renewed expansion drive that could include bolt-on acquisitions following a failed merger attempt with Revolution Bars.

Deltic chief executive Peter Marks said the company wanted to snap up profitable businesses and had doubled the sizeofitspropertydepartment to help spearhead growth.

It comes after Deltic’s move last year on Revolution Bars, whose outlets include Aberdeen and Glasgow, ran into the sand of investor opposition.

Marks added: “We have nothing in Manchester, Liverpool, Glasgow and Newcastle, so obviously they are in the mix.” While potential deals would be funded by cash flow, he said Deltic could also call on the support of shareholders or private equity firms if “something that looked a bit tasty” appeared.

Deltic was now “actively looking at building up a pipeline” of potential deals, he said.