Member Article

Bond Dickinson advises Piper on Flat Iron investment

National law firm Bond Dickinson LLP has advised longstanding client Piper, the UK’s leading specialist investor in consumer brands, on its £10 million investment in Flat Iron, the renowned London-based steak restaurant.

Piper’s investment will provide Flat Iron with the funding needed to bolster the team so it can continue to deliver outstanding quality and value across its four restaurants in Soho, Tottenham Court Road, Covent Garden and Shoreditch. The deal will also support the restaurant’s growth ambitions to open more units in London to meet customer demand.

The Bond Dickinson team, led by Corporate Finance Partner Simon Hewes and Solicitor Sammy Hill, advised on the complex legal aspects of the transaction and project managed a team of specialist lawyers.

Simon Hewes, Partner at Bond Dickinson said: “We were set a very challenging timetable and the team pulled out all the stops to meet it. We worked with Piper and its close advisory team, building on strong relationships through working together on investments in Loungers, Turtle Bay and Hickory’s Smokehouse. Piper has a real passion for growing young consumer brands into successful mature businesses and it has been a genuine pleasure to work with them again on this latest deal.”

Dan Stern, Investment Director at Piper, added: “The consistently long queues outside Flat Iron are testimony to the business’s passion for providing outstanding quality steak at great value, offering customers an “everyday occasion”. We are looking forward to working with them to continue growing Flat Iron into a beacon brand of excellence.

“Simon Hewes and his team did another fantastic job for Piper. Bond Dickinson offered deep specialisms in the due diligence and ran all the legal documentation in an efficient way that worked very smoothly for all parties. Many thanks for all your hard work.”

This was the second investment deal upon which Bond Dickinson advised Piper in as many weeks – Piper’s investment in Barking Heads was completed a couple of weeks earlier. Last August, Bond Dickinson advised Piper on another significant transaction as it invested £7m in PROPERCORN, the UK’s fastest growing popcorn brand.

Bond Dickinson provides legal advice across a range of sectors, including retail, energy, manufacturing, financial services, insurance, transport, real estate and private wealth. The firm’s corporate banking and finance lawyers advise private equity firms, investee companies, management teams and debt providers on private equity transactions, including growth and development capital, as well as management buyouts.

This was posted in Bdaily's Members' News section by Womble Bond Dickinson LLP .