Our Chester office advises restaurateurs on the sale of Mediterranean restaurant group Ego
7th April, 2008
Our Chester office has advised the founders of Ego, the North West restaurant group, on its sale to the former management team of La Tasca, the nationwide Spanish Tapas bar chain.
LDC, the private equity arm of Lloyds TSB are taking a 58% stake of the business for £9.1million.
Founded by Jason Ellison and Jonathan Poole in Chester in 1999 Ego has proved to be extremely popular with Chester’s restaurant goers. The Mediterranean-style restaurant group now has five outlets in Chester, Liverpool, Heswall, Stockton Heath and Bramhall and a sixth restaurant is due to be launched in the Midlands. Ego employs 200 people.
John Ierston, Partner at our Chester office who led their advisory team says: “We have been advising Jason and Jonathan since they founded Ego so it has been great to be able to assist them with the sale of the successful business they have worked so hard to build up.”
Chester solicitors Hillyer McKeown acted as legal advisors to Ego. Sarah Bayley, Head of their Corporate Department, said “We have acted for Ego for over 5 years and it has been exciting being a part of its rapid expansion. This deal has been demanding in terms of timescale and we are pleased to have brought it to a successful conclusion”.
Mr. Ellison, who engineered the strategic exit of Ego, retains 100% ownership of Chez Jules, Chester within his portfolio, which was not part of the sale. He will also continue to advise other businesses in strategic business growth and planning.
UHY Hacker Young acts for a number of restaurants, hotels and food outlets and has considerable experience in providing business advisory, audit and accounting services to hospitality businesses in and around Chester.
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