Sat 24th May 2025 - McWin and Trispan in talks to take stake in Flat Iron McWin and Trispan in talks to take stake in Flat Iron: McWin Capital Partners, the backers of Gail’s, Big Mamma and Sticks’n’ Sushi, and Trispan, the backers of Pho, Mowgli and Rosa’s Thai, are in advanced talks to invest in Flat Iron, the Piper-backed affordable steak concept, Propel has learned. Propel revealed last October that Flat Iron had appointed Houlihan Lokey to assess its options, which are understood to include third-party investment or a possible sale of the business. Flat Iron, which was founded by entrepreneur Charlie Carroll, started life in 2012 as a pop-up above the Owl & Pussycat pub in Shoreditch, east London, and opened its first restaurant later that year in Beak Street in London’s Soho. The company recently added to its London estate with an opening on the ex-Canteen site at Royal Festival Hall, on the Southbank. The 220-cover restaurant, which is believed to be trading ahead of expectations, became the business’ 15th site in the capital – and 18th overall. The company is understood to have a well-developed pipeline for 2025, both in London and the regions, where it has opened sites in Cambridge, Leeds and Manchester. It is planning to further enhance its regional presence with an opening in Bristol. The Tom Byng-led business has applied to open on the Four Wise Monkeys restaurant site in the city’s Clare Street. Flat Iron features in the Propel Turnover & Profits Blue Book, which is available exclusively to Premium Club members and features 1,108 companies. Flat Iron’s turnover of £49,631,196 for the year ending 25 August 2024 is the 243rd highest in the database. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.