Novus Leisure for sale

Wed, 11 Jul 2018 | BUSINESS SALE

Novus Leisure, known for its Ibiza-inspired club rooms and karaoke pods has been put up for sale by its private equity owner.

HayFin Capital Management has hired advisers at Sapient Corporate Finance to find a buyer for the business, which has 41 bars and nightclubs, including the flagship Tiger Tiger in London’s West End, UK's one-stop shop for entertainment including tiki paradises, groovy wonderlands and opulent cocktail bars.

In 2005, Novus decided to go private in an unsuccessful £113m management buyout which then resulted in a takeover by Barclays and the Royal Bank of Scotland through a debt-for-equity swap in 2009.

The company was then bought by private equity firms LGV Capital and Hutton Collins in 2012 for £100m. Three years later, the business was again seized by its lender, HayFin, the lender for LGV and Hutton Collins.

Following these difficult years, the sale comes after a brief stunt on the London Stock Exchange under the name Urbium with David Cameron as a non-executive director.

Novus has recently shifted its focus towards restaurants and owns other properties in London including the Hays Galleria shopping centre and the Jewel Piccadilly bar.

The business reported a pre-tax loss of £12.3m for the year ending 25 June 2017 and acquired three Rocket restaurant sites from 3Sixty Restaurants’ in the same period for an undisclosed sum. The sites acquired included Canary Wharf, Adam’s Court and Bishopsgate.

Both HayFin and Novus have declined to provide any comments on the sale.

For more news stories about businesses for sale click here. For all our business listings, click here.


Share this article



Latest Businesses for Sale

Rail Industry Civil Engineering & Equipment Hire Company
UK Wide

The business is a specialist civil engineering and construction services, particularly within the rail industry. Provides rail and construction equipment hire services nationwide. Offers invited.

Asking Price: Offers Invited
Turnover: £2,600,000

LEASEHOLD


Multidisciplinary Civil & Structural Consultancy Services
UK Wide

The business is a demonstrating considerable growth, with turnover increasing by over 115% across a three-year period. Strong work pipeline, with over £500k in contracted projects to be included in its YE18 turnover.

Asking Price: Offers Invited
Turnover: £729,000

LEASEHOLD


In-Store Music Supplier
UK Wide

The business is a client base of c. 400 clients covering c. 2,200 sites across the UK, including many well-known blue-chip, high street brands and franchises. Most clients are on long-term contracts, with c. 80% of turnover being generated from recur...

Asking Price: Offers Invited
Turnover: < £500k

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
20
 
Jul
 

Law firm appoints administrators following financial collapse | ADMINISTRATION

A north west law firm has been placed in administration foll...

 
19
 
Jul
 

Food giant to potentially sell parts of its business | DIVISION SALE

Facing mounting debt and unpopular management, Premier Foods...

 
18
 
Jul
 

Restaurant group Gaucho on the verge of administration | ADMINISTRATION

Gaucho restaurant group faces going into administration as i...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Sign up to our newsletter

Get news on businesses for sale and companies in administration straight to your inbox