Be At One, the Piper-backed cocktail bar chain,has appointed advisors to review its options, which could lead to a sale of the £60m+ valued business, according to reports.
The Sunday Times reported that AlixPartners has been retained by the company.
MCA understands that the process is in the early stages with a sale likely to take place in 2017.
The 31-strong group, which was founded by Steve Locke, Rhys Oldfield and Leigh Miller in 1998, saw its like-for-like sales increase 9% in the first three months of its current financial year to the end of June.
The company believes it can eventually grow to up to 120 sites in the UK.
Locke told MCA earlier this year that the group’s expansion is being underpinned by the continued closure of nightclubs across the UK.
The majority of the group’s openings outside of London have come through closed nightclub sites.
Piper paid £8m for a stake in 2011.
