Mayfair Bingo

Sector

Leisure

Deal Type

Management buy-in

Investment Date

2004

Exit Date

2006

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

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

Outcome

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