In 2004 we provided funding to a management buy-in team to acquire Mayfair Bingo, an operator of six Riva Bingo branded bingo halls.

We sold the business in April 2006 realising a return on our investment of 2.3x.

Why we invested:

• Scope to make operational improvements through professionalising the existing business
• Opportunity to grow through acquisition of individual, family owned bingo halls around the UK
• Opportunity to open new sites based on a smaller footprint/smaller town model than the large dominant chains would consider