The Inn Collection Group, the pub operator of eight sites, has been sold by Kings Park Capita (KPC)l to a new company backed by Alchemy Partners.
KPC bought a majority stake in the company in 2013 for £10m, when it had three inns.
The business operates pubs with rooms in the North East of England, catering to the local population, as well as leisure and business travellers.
The current seven inns are situated across Northumberland, County Durham and North Yorkshire, with The Amble Inn in Amble set to open in October.
The Inn Collection Group was first established by Keith Liddell in 2006 with the acquisition of Lindisfarne Inn, which opened in 2007.