US-based TSG Consumer Partners has purchased a 22 per cent equity stake in the craft beer maker, BrewDog, for a reported £213 million.
The sale values the Scottish-based brewer at more than £1 billion.
A reported £113 million will be used to buy stock from existing investors, while £100 million will be used to issue new shares.
Co-founders James Watt and Martin Dickie said the move had been controversial.
Experts suggested that a private equity purchase could have potentially damaged BrewDog’s ‘punk image’ brand, a suggestion which Mr Watt avidly contests.
He said TSG’s offer was accepted despite the fact it was not the highest bid on the table. Its history of “taking brands public” made it attractive, said Mr Watt.
“We’re looking to go public in four or five years. That’s the timeline we’re working towards,” he added.
Mr Watt said any listing would most likely be in the UK, but was “open to considering options”.
Experts suggest that a US listing is realistic following the company’s recent growth in the States.
Mr Watt’s stake will fall from a 35 per cent holding to 25 per cent, while Mr Dickie’s will drop from 30 per cent to 22 per cent.
In 2015, the company sold over £9.1 million worth of its flagship drink, BrewDog Punk IPA – a 137 per cent year-on-year growth.