The BDO Team have recently provided financial due diligence and advisory services in connection with the minority stake investment in Bristol-based casual dining and bar group Loungers. The company has recently opened its 22nd site and has announced a £16m investment from Piper Private Equity; Loungers is seeking to grow its footprint to over 50 outlets within the next three to five years.
“As a result of their prior work with the company and their expertise in the sector BDO had an in-depth knowledge of the business. The team were sensitive to the pressures on management time, quickly identified the pertinent issues and produced a balanced and accurate report"
Nick Collins, Finance Director, Loungers Limited
BDO understood the key areas of focus that were commercially important for us to consider as investors. The due diligence report they produced approached the issues from a commercial yet balanced perspective and highlighted the key financial issues with appropriate recommendations. This enabled us to progress quickly within a tight timeframe to completion”.
Peter Kemp-Welch, Partner, Piper Private Equity