Gondola launched Byron in 2007 after it spotted a niche in the UK market for a high-quality restaurant serving classic hamburgers, and has since expanded to 34 sites.
A string of firms have been linked with bids for the business since the turn of the year, including TA Associates, Equistone, LDC, Lion Capital and Phoenix Equity Partners.
Other buyout interest was said to include RIT Capital Partners, Quilvest and Searchlight Capital Partners.
Harvey Smyth, chief executive of Gondola, said, “Byron has gone from strength to strength since we launched it in 2007.
“Its passion and innovative approach have already positioned it as an important brand in the casual dining market, with exciting opportunities to continue to grow throughout the UK.
“The team at Byron have done a fantastic job and they leave Gondola with our thanks and best wishes for the future.”
Hutton Collins managing partner Graham Hutton said, “We are delighted to be investing in such a pioneering brand.
“Byron has a clear road map for growth and a talented team in place to deliver it.
“We are excited to be working with Tom Byng and the entire Byron team, and are looking forward to bringing the Byron burger experience to many more diners across the UK.
“This transaction complements Hutton Collins’ long experience of generating attractive investment returns in the casual dining and leisure sectors.”
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