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Field Seymour Parkes advises SWIF on investment into Rockfish restaurant

Investors in this round: The FSE Group

The Private Equity and Venture Capital team at Field Seymour Parkes are delighted to have advised the South West Investment Fund’s appointed manager, The FSE Group on a £1,250,000 equity investment into the Rockfish Group, a seafood restaurant group operating across the South West as part of a £3,000,000 funding round to fuel further expansion for the Rockfish Group across the South West.

Founded by Mitch Tonks in 2007, Rockfish has expanded to include eight restaurants, two takeaways, a fishmonger, as well as a tinned seafood range. Additionally, it boasts the award-winning The Seahorse restaurant in Dartmouth. With a focus on sustainability and quality, Rockfish is dedicated to providing the best seafood experience, directly sourced from local ​​markets or from Marine Stewardship Council (MSC) certified fisheries, with 80% of its menu certified by the MSC.

Operating at the heart of hospitality and tourism, Rockfish demonstrated resilience and adaptability in the pandemic, acquiring a fish procurement and processing business on the Brixham quayside. This has empowered Rockfish with control over its supply chain alongside a unique setup that not only secures the finest seafood for its restaurants but also offers competitive and commercial advantages that set Rockfish apart in the sector.

Rockfish is now set to execute a strategic three-year growth plan, which includes the opening of four new sites and the expansion of its retail offerings.

Mitch Tonks, Founder of Rockfish, expressed his enthusiasm for the future, “This investment is a testament to the strength and potential of Rockfish. We are excited to embark on this next chapter of growth, driven by our passion for seafood and our commitment to sustainability and excellence. We are grateful for the support from the South West Investment Fund and The FSE Group and look forward to bringing our unique seafood experience to even more people.”

Rockfish’s dedication to sustainability is evident in its operations, with 80% of its menu certified by the Marine Stewardship Council (MSC).  Recognised as a top 100 UK employer with a top 10 listing in Hospitality, Rockfish continues to set benchmarks in employee satisfaction and operational excellence. Additionally, Rockfish is in the process of becoming a B Corp, reinforcing its commitment to social and environmental standards.

Ralph Singleton, Head of Equity, South West at The FSE Group, added: “Rockfish is poised for an exciting phase of expansion. With a robust recovery post-COVID and a highly capable management team at the helm, this expansion will further establish Rockfish as a leader in sustainable and quality seafood dining and we are delighted to be part of this journey.

The £200m South West Investment Fund (SWIF) covers the entire South West region, and provides both debt funding and equity investments into a range of small and medium-sized businesses looking to start up, scale up or stay ahead. The purpose of the SWIF is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West.

The team at FSP advising on the investment was led by Penelope Garden (Partner and Head of Private Equity and Venture Capital) with assistance from Rachael Maunder (Partner) and Lauren Lashley (Solicitor).

£1.25m

Field Seymour Parkes advises SWIF on investment into Rockfish restaurant

Field Seymour Parkes advises SWIF on investment into Rockfish restaurant

By Lauren Niker Field Seymour Parkes Profile 18 Jun 2024