TLT has advised private equity fund manager YFM Equity Partners on its £3m investment in healthy-eating fast-food chain, Friska.
The investment was made by YFM's British Smaller Companies Venture Capital Trusts alongside ongoing support from Santander.
The fast-growing Bristol-headquartered food chain – which has nine outlets across Bristol, Birmingham and Luton Airport and was founded by Ed Brown and Griff Holland on the principle of delivering 'feel good food' – expects to turn over £4.6m this year. The deal will enable the business to embark on its ambitious growth plans and to roll the brand out into new cities across the UK. The business has already announced plans to open outlets in Manchester in the coming months.
The TLT team was jointly led by partner and head of private equity Jon Gill and corporate associate Nina Searle, and involved support from across TLT's service lines, particularly TLT's dedicated retail and leisure property team.
Jon Gill said: "Friska is an excellent example of the innovative concepts in the food and drink sector that the South West is so good at creating and exporting to the rest of the UK. We were delighted to be able to support YFM with their latest investment in a business that we know well, and wish Ed and Griff every success in their new partnership with YFM to scale the business further."
Charlie Robinson, investment director at YFM who led the deal, commented: "This is our second successful deal completion with TLT in the last twelve months and as ever, they provided invaluable and pragmatic advice throughout the whole process. We are very excited by the prospects for Friska and are looking forward to supporting the development of the brand."