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Sun 20th Dec 2015 - Private equity firm invests £10m in Le Bistrot Pierre
Private equity firm invests £10m in Le Bistrot Pierre: Private equity firm Livingbridge has bought a near-£10m stake in French restaurant company Le Bistrot Pierre. Livingbridge has invested £9.8m in Le Bistrot Pierre, which was founded by Nottingham school friends Rob Beacham and John Whitehead in 1994 and now has 14 restaurants. The investment is thought to value the chain at about £20m, reports The Sunday Times. Le Bistrot Pierre made a profit of £2m on revenue of £18m in its most recent financial year. It plans to open two restaurants in the next six months — in Birmingham and Swansea — with further “significant expansion” planned after that. Private equity funds have dined out on restaurant deals this year as mid-market chains continue to attract big valuations. YO! Sushi was sold to Mayfair Equity Partners last month for £81m, and BC Partners bought Cote Restaurants for £250m in the summer while Ed’s Easy Diner and Bill’s Restaurants are expected to be the next targets for investors. Livingbridge changed its name earlier this year from Isis Equity Partners.

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