Private equity takes stake in Be At One bars to drive growth

PRIVATE equity firm Piper has taken a significant minority stake in Be At One, the cocktail chain that runs 12 bars across London.

Piper, which founded the Pitcher & Piano bars and invested in the expansion of Mexican restaurant Las Iguanas, has paid £8m for its stake in Be At One, with the cash destined to help the bars’ owners open new sites.

Be At One was founded in 1998 by three ex-TGI Fridays barmen, and opened its first bar in Battersea. It now runs cocktail bars at sites near Monument, Spitalfields and Old Street.

“We are delighted to be investing in Be At One,” said Piper’s Peter Kemp-Welsh. “We are backing a strong, driven management team who are passionate about their business.”