Be At One

The bar chain that took its fun-loving night out proposition nationwide with a sensational range of cocktails served by the best quality staff.

Invested in 2011, exited 2018.

Steve Locke, Rhys Oldfield, and Leigh Miller opened their first Be At One bar in Battersea in 1998, having worked together as bartenders at TGI Fridays, they recognised that there was an opportunity to develop a uniquely differentiated cocktail bar proposition. Be At One’s success is driven by its focus on providing the finest range of cocktails served by the best quality staff –the company invests £5,000 on training each of their bartenders, taking them through a comprehensive nine-week training programme.

In 2011, Piper invested to support Be At One in expanding the business beyond its original London base, taking the chain from 11 to 35 bars, of which 17 were outside London. It also allowed the followers to realise some of the value they created but retain a majority stake and have the necessary funding for the next stage of growth.

During our investment we worked with the brand to find and launch a new brand identity alongside a refurbished site design, and we expanded the management team to support the rollout plan. Over the lifetime of the investment, sales increased 5x to £40m.

In 2018 we sold our stake to Stonegate Pub Company. At the time of exit, the chain has over 35 bars across the UK, sells more vodka than Hilton Hotels and uses over half of tonne of fresh mint a month for its popular Mojitos.

Mark Derry, Be At One chair, said: ‘Steve, Rhys and Leigh have, over the past 20 years, created a unique business and a very special legacy in Be At One. I’d like to take this opportunity to thank our private equity partner Piper for their invaluable support and wise counsel over the past six years – they are exceptional investors and supporters of businesses like Be At One, and our industry, and we wish them very well.’