Urban & Country Leisure (UCL), the multiple operator led by Ross Sanders, has entered into a new joint venture with Inventive Property Holdings, the five-strong London-based pub group. It has undertaken a reverse equity swap that sees UCL take a 50% stake in Inventive, the Bridgehouse Capital backed chain and, similarly, Inventive has taken a 50% slice of UCL in a deal that raises £2m. Sir Aubrey Brocklebank, a former merchant banker and consultant to Nabarro Wells & Co, has now been appointed as Inventive’s chairman. Its board will also feature Sanders plus Andy Ruhan, of Bridgehouse Capital and UCL’s financial director Jason Ross. The £2m will be used to fund further expansion for UCL – which recently opened its 14th pub The Huff Cap Inn, in Alcester Warwickshire, following a £850,000 refurbishment.