Piper has sold its stake in fast growing café-bar chain Loungers to Lion Capital in a transaction valuing the business at £137m. Piper invested £16m in Loungers in April 2012 when the business comprised 20 Lounges and three Cosy Club sites across the UK. Over the past four years, the company has more than quadrupled
The Piper team have been absolutely brilliant for Loungers and we’ve enjoyed a wonderful partnership with them over the last five years. Piper’s experience, support and expertise have proved invaluable in assisting the management team to rapidly grow the business while protecting and enhancing the special culture that exists within Loungers.