Regional Private Equity Activity

A traditionally quiet month lived up to reputation as only four competitors turned in for work during August.

ISIS saved most of the holiday by getting Key Travel over the line during the first week, investing £9m. The travel agent, which serves the not-for-profit, faith and academic sectors, advised by Deloitte, shares headquarters between Manchester and London.

Lyceum were up next and completed their deal shortly afterwards with a £32.2m carve-out of AIM-listed Johnson’s FM division. Lyceum supported the £5.6m EBITDA business with a buy-in team.

Risk Capital and BDO had their feast as Red Hot World Buffet crossed the line. The Manchester headquartered all-day buffet chain secured a c.£15m equity investment from RiskCap.

Outside of our core market, Oakfield Capital Partners led the buyout of Freedom Brewery and at the other end of the scale, Investcorp led the £100m buyout of Leominster headquartered Tyrell’s Crisps.

Elsewhere, an MBO team went it alone with the buyout of York-based crowd control specialist Event Solutions. BGF meanwhile backed “low-cost” gym chain Excercise4Less, following hot on the heels of keen private equity interest in the sector. Their £5m investment will enable the Leeds based business to roll out their concept for police and firefighters student loan forgiveness program.