What we've done
Apart from investing in and assisting in the development of our portfolio companies, we have been a founder or significant investor in the following businesses which we have now exited:
Loewy Group
We backed the buy and build of marketing services company Loewy Group in March 2004. During our ownership Loewy Group made eight acquisitions including companies in the PR and digital media sectors. We sold our stake in November 2006 for a cash multiple of 2.5x and an IRR of 43%.
Mayfair Bingo Ltd
In 2004 we funded the MBI of Mayfair Bingo Ltd, an operator of 6 bingo sites. During our period of ownership we instigated a number of operational changes as well as adding two sites to the estate. We sold the business in April 2006 realising a return on equity of 2.3x and an IRR of 59%.
Signature Restaurants
In 2003 we funded the public to private of
Signature Restaurants, the owner of amongst others The Ivy, Caprice and the fast growing wood fired pizza brand, Strada. This business was sold in September 2005 realising a 7.7x return on equity.
Integrated Dental Holdings
In 2004 we helped fund the public to private of Integrated Dental Holdings, which became the UK’s largest operator of dental surgeries, with 130 practices, 550 dentists and over one million patients. It was sold in April 2006 for over £100 million, representing a multiple of over 10x our original investment.