Transaction Details

December 21, 2015
London

Sector

Consumer, Retail, E-commerce and Leisure

Deal Type

M&A

Deal Team

Sam Fuller, Katherine Hobbs, Arthur Callaghan

GCA Altium advises Le Bistrot Pierre on investment from Livingbridge

GCA Altium acted as exclusive financial adviser to the shareholders of Le Bistrot Pierre Limited on its investment from Livingbridge EP LLP.

Le Bistrot Pierre is a French-themed casual dining restaurant chain with 14 units across the UK. Founded in 1994, the company has been owned and managed by the original founders Robert Beacham and John Whitehead for 21 years. The business has grown from a single franchised unit in Nottingham to a family of 14 bistrots with a strong presence in the Midlands and South West of England and Wales, generating revenues of £18m and profits in excess of £2m in 2015.

The deal is the first from Livingbridge’s Enterprise 2 fund, which invests up to £10m in growth equity and buyout transactions.

GCA Altium’s appointment builds on its extensive track record in the casual dining and restaurant sector, with the transaction representing the 60th deal GCA Altium has advised on this calendar year. GCA Altium’s debt advisory team arranged financing for the transaction.

The transaction has culminated in a highly positive outcome for all shareholders and provides Le Bistrot Pierre with funding to pursue a rollout plan that would see the company open four new bistrots a year.

John Whitehead, Co-founder and Managing Director of Le Bistrot Pierre, said: “We chose the team at GCA Altium to help us seek investment for our business for a number of reasons: an impeccable record generally but in our sector specifically; shared values and a real sense of them being fully committed – day and night – to helping us find the right partner and the right deal structure. Through the process we never felt the team at GCA Altium were chasing a fee but that our best interests across a range of metrics were well and truly of paramount importance. Apart from it being a real pleasure working with them and good fun at times, they bring to the table a nimble intellect and a great deal of sagacity. We would most certainly employ their services again in a heartbeat and we cannot recommend them highly enough.”

Benoit Broch, Director at Livingbridge, said: “You’re a class act. We greatly enjoyed working with GCA Altium as they advised the shareholders on our investment in Le Bistrot Pierre, the French Bistrot casual dining business. They confirmed their reputation: smart operators; with genuine and deep sector knowledge; and a hard working, diligent, and professional approach. They provided sound advice to all to ensure a smooth and successful deal process. We look forward to working with them again soon.”

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