GA-Select has completed the sale of Outbar Leisure Services, a national outside-events company, based in Leicestershire.
The business includes seven portable bars, which are each capable of dispensing 1,500 pints per hour through metered dispensing equipment. The bars are either towed or transported to events on low loaders.
Trade for Outbar was running at £411,000 per year, generated from 100% wet sales with an annual barrelage of 535 brewers barrels. Last year the business sold 2,322 cases of bottled beer and 680 litres of premium-branded spirits.
The business was bought by Paul Burk and Paul Haynes who have backgrounds in the licensed trade and corporate hospitality. They plan to expand the business by 50% next year, which will mean taking on up to four new units.
Paul Burk said: "We're very exited about the business and keen to grow. We're free of tie and have fairly low overheads, which really maximises our profitability."
Graham Allman, of GA-Select, said: "There was a staggering amount of interest in this business. We could not believe the amount of viewings - people were throwing money at us. It was one of those businesses that was either going to get no interest or just fly out of the window."
The sale included ongoing contracts with events such as the Bramham Horse Trials, Cambridge Gay Pride, Dunlop Squash Championships and a schedule of private events.
The business was sold by managing director Richard Harding, who built up the business over four years. He is leaving the licensed trade.