BDO provided Corporate Finance advisory support, due diligence and taxation services to Palatine Private Equity on its investment in The Alchemist, a four-strong chain of restaurant and cocktail bars with sites in Manchester, Leeds and London.
The £10m equity investment from Palatine and £6.5m development and working capital facilities from Santander will enable the business to develop its existing sites and open new venues in city centre locations. This is the second time the BDO team has assisted Palatine with a buy-out from the Living Ventures Group, having worked on the Gusto transaction last year.
“BDO provided us with fantastic support on this deal and helped us drive it home. The M&A, diligence and tax teams all made a significant contribution, and the fact all had relevant sector expertise as well was a real plus.”
Gary Tipper, Managing Partner, Palatine Private Equity