Adventure Bar, the London-based bar operator run by former employees of TGI Friday’s and Be @ One, has exchanged contracts on its fifth site as it reveals plans for gradual expansion that will see about another 12 venues added over the next 10 years.

The company has taken a lease on the current Hed Kandi bar on Clapham High Street and hopes to open the venue in November under its eponymous cocktail bar brand.

Tobias Jackson, a company director, said the firm is aiming for “natural growth”, with plans to secure its next site in the next 18 to 24 months. The capital will be targeted initially, but Jackson added: “At some point we will be looking at moving out of London.”

“I think within 10 years we are looking at about 12 new bars in addition to our current portfolio.”

He also revealed: “We’ve had meeting with a couple of private equity companies but we are of the mind that we’ve got too much to lose rather than gain at our current size. Most investment companies go in a bit later, anyway.”

Adventure Bars’ current sites are in Covent Garden, Clapham Junction, Balham and East Dulwich. Other directors of the company include Kieron Botting and Thomas Kidd, who, like Jackson, previously worked at TGI Friday’s and Be @ One.

Davis Coffer Lyons acted on the Hed Kandi deal.