Bank OakNorth has provided the steakhouse group with a senior debt facility that will help the 18-strong chain continue to grow.
Last month, McWin Capital Partners and TriSpan partnered to secure a co-control majority investment in FI Holdings Limited, which operates Flat Iron restaurants, for an undisclosed sum.
“Flat Iron is one of the UK’s most impressive growth stories – a brand with a clear identity, disciplined operating model, and an exceptional track record of site-level profitability,” says Stuart Blair, debt finance director at OakNorth.
“The business has proven resilient in a challenging market and continues to win with customers through quality, value, and operational excellence, delivering consistent like-for-like growth and sector-leading operating margins. We’re excited to support McWin and TriSpan in this next chapter of growth.”
The steak-focused restaurant group is continuing its national expansion, building on its three regional sites in Cambridge, Manchester, and Leeds. This autumn it will open a 115-cover restaurant in Brighton, followed in early 2026 by a 100-restaurant in Bristol.
“We’re incredibly proud of what the Flat Iron team has built over the last decade, and we’re thrilled to have the backing of McWin, TriSpan, and OakNorth as we look to take the brand to the next level,” says CEO of Flat Iron Tom Byng.
