BLP advises on Searcy’s management buy-out
Berwin Leighton Paisner (BLP) advised the management team of upmarket restaurant group Searcy on a management buy-out of the company from the Alternative Hotel Group (the owner of De Vere Hotels).
Commenting on the deal, David Battiscombe, BLP’s Searcy relationship partner, said: “We have acted for Searcy for a number of years and were delighted to advise Richard Tear and Doug Tetley on the transaction which was completed in a very tight timeframe. With Searcy’s continued expansion in the areas of concessions and its portfolio of bars, we look forward working closely with the company to support the development of its prestigious brand.”
Searcy’s Chairman, Richard Tear, said: “This was a very important negotiation in our business lives. BLP’s detailed attention to the tasks involved was second to none and the care given exemplary. We and the management team will benefit from this for many years to come.”Corporate finance partners Keith Stella and David McLeish led the BLP team, assisted by associate Nick Watson.
Searcy has operations at a number of iconic locations including The Gherkin, The Hurlingham Club, the Champagne Bar at St Pancras and the Assembly Rooms and the Pump Rooms in Bath.
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