Jamieson Corporate Finance has advised the shareholders of Honest Burgers on the sale of a significant stake to Active Private Equity (Active).
Honest Burgers, the London-based premium burger restaurant, was founded by Dorian Waite, Tom Barton and Philip Eeles in 2011 in a market traditionally dominated by innovative independent restaurants. The Jamieson team, which consisted of Stuart Coventry, David Kirkpatrick and Jean Pierre Smith, advised the founders on the sale of a 50 per cent holding to Active.
As part of the deal, the three founders will retain holdings in Honest Burgers and will continue to run the successful restaurant chain. In addition, Active’s Founding Partner, Spencer Skinner, will join the board of Honest Burgers in an advisory role.
Honest Burgers has an ambitious growth plan over the next three years, initially focussing on London before expanding to the rest of the UK. With nine restaurants currently open, the Company is expected to reach 14 branches in the next 12 months. With Active, they have found an ideal investment partner with experience in successfully developing branded consumer businesses such as Leon and Evans Cycles.
Commenting on Jamieson Corporate Finance’s involvement, Dorian Waite, Co-Founder and Managing Director of Honest Burgers, says: “When looking for an advisor we decided we wanted someone who had specific expertise in negotiating within the Private Equity space. Jamieson provided us with invaluable advice to structure, negotiate and execute the transaction. The team were a pleasure to work with and we were particularly impressed with their knowledge, level of service and professionalism throughout the deal process.”
Stuart Coventry, Partner at Jamieson Corporate Finance who led the transaction, says: “With the strong leadership and vision of Dorian, Tom and Philip, the Company has grown significantly over the last four years to establish itself as one of the best success stories in the London restaurant space. Following this deal, we believe Dorian and his team now have the ideal partner to take Honest Burgers to the next level of growth.”
Jamieson has worked on a wide range of significant deals within the restaurant and retail sectors. This experience includes advising the likes of YO! Sushi, Cath Kidston, Pizza Express and, more recently, Farrow & Ball.
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