Service with a smile 21 February 2020 Tom Kemble of the Pass at South Lodge cooks up a pumpkin masterclass and shares why it’s important for chefs to meet their customers
In this week's issue...Service with a smile Tom Kemble of the Pass at South Lodge cooks up a pumpkin masterclass and shares why it’s important for chefs to meet their customers
Read More
Search
The Caterer

Loungers secures £16m investment from Piper

10 April 2012 by
Loungers secures £16m investment from Piper

Private equity firm Piper has made a £16m investment in cafe-bar chain Loungers.

Loungers, which was founded in 2002 in Bristol by Alex Reilley (pictured), Jake Bishop and Dave Reid and now has over 20 Lounges from Plymouth to Birmingham, will use the investment to fund its plans to open 50 more outlets over the next three to five years.

It is the largest-ever investment the private equity firm has made. Piper has previously helped found the Pitcher & Piano chain, and has also made investments in restaurant chain Las Iguanas and bar chain Be At One.

Loungers co-founder Alex Reilley said: "We first met Piper four years ago and have been impressed with the team's continued support and interest in our business over the intervening period. We are all now focused on scaling the business and ensuring we build an outstanding operation and brand legend."

The Piper investment was led by George Adams and Peter Kemp-Welch. Kemp-Welch, who will join the board of Loungers, said: "Our research shows that there are hundreds more sites to go for and we believe the Lounges provide a completely new alternative for customers and have the potential to be the ‘pub of the future'."

Loungers was advised on the deal by Matt Eves of Equity Growth Partners.

Loungers chooses Bournemouth for 22nd site >>

Loungers enjoys busiest-ever month in December >>

Loungers hires ex-Capital finance director >>

By Neil Gerrard

E-mail your comments to Neil Gerrard here.

Tabletalk
Tabletalk
If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.catererandhotelkeeper.com/tabletalk

Catererandhotelkeeper.com jobs

Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs

Blogs on Catererandhotelkeeper.com ](http://www.catererandhotelkeeper.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[E-Newsletters](http://www.catererandhotelkeeper.com/email-newsletters.htm)[ For the latest hospitality news, sign up for our E-newsletters
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!