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We sit down with CMS partner David Roberts to trace his accidental route into hospitality and the deal-making that shaped modern UK restaurant growth. We dig into how founders raise capital without losing control, why some private equity structures now punish management teams, and what trends are actually worth watching. 
• moving from Sydney law into London hotel M&A and restaurant work 
• why hospitality careers often start by accident and then become addictive 
• building a hospitality-led legal practice through relationships and trust 
• the founder boot camp model and what early-stage groups need to learn 
• backing Blacklock and copying great culture from Hawksmoor 
• growing restaurant groups from cashflow and avoiding early dilution 
• how long holding periods and loan notes wipe out management equity 
• why the UK needs real consolidation vehicles for mature groups 
• UK margin pressure pushing brands towards licensing, franchising, and overseas growth 
• categories getting attention now including coffee, bakeries, food-led pubs, and live music 
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