THCP-backed Byron to be acquired out of administration

More than 50% of Byron’s 51 sites will close permanently, and 650 jobs will be lost, leaving 20 restaurants and 551 employees transferring to Calveton, according to a BBC report. Administrator KPMG is understood to have been discussing a potential full or partial takeover of Byron with three interested parties.

Existing investors, including Three Hills Capital Partners, will retain a minority share under the terms of the transaction.

Previous funding
Hutton Collins Partners acquired Byron from Gondola for £100m in October 2013.

THCP acquired a majority stake in Byron in a turnaround deal in December 2017. FPP Asset Management has also invested in the company, taking a minority stake.

Company
Founded in 2007, Byron is a UK-based company operating a chain of burger restaurants. It is headquartered in London.

People
THCP - Mauro Moretti (founder, managing partner).

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• Topics
• Turnaround/Special Situations
• Buyouts
• UK / Ireland
• Consumer
• Exits
• United Kingdom
• Three Hills Capital Partners
• Turnarounds