Mon, 28 Feb 2011 | BUSINESS NEWS
Moto, the largest motorway services company in the UK, is fast approaching a deadline in June to refinance its debts.
The £600 million borrowings date back to its 2006 takeover by a consortium led by Australian bank Macquarie, from Compass - catering group.
Investment bankers at Barclays have been drafted in to assist with the drive to refinance the debt pile. Barclays have spoken to potential investors about a bond issue valued at about £250 million, according to Capital Structure – the debt information service provider.
Industry insiders are said to doubt the likelihood of Moto obtaining new funding before the deadline. If these doubts prove to be correct, Moto’s banks may take over the company, forcing it into administration. Marketing the business for sale will be the most likely option, and it is believed that several private equity houses are watching carefully for an opportunity to purchase the chain in a forced sale situation.
Moto runs 57 roadside stops across the UK from Scotland to the South West, which feature well-known brands including Marks & Spencer, Burger King, Costa Coffee and WH Smith. Its rivals include Welcome Break and Roadchef.
This well-established company, with over 20 years of experience, offers a robust telemarketing service catering to both multi-nationals and SME businesses. With a flexible, home-based workforce, the business is fully relocatable, providing a unique o...
This innovative digital health and integrated care technology provider offers a unique suite of products designed to support the independent living of older people, using advanced IoT sensors and machine learning for effective falls detection and pre...
Trusted by McLaren, NATO, Facebook & more. 50%+ profit margin, 30K active contacts, and strong web presence (150K+ clicks). Delivers high-impact training in Premiere Pro, AutoCAD, Unreal Engine, and more. Huge potential for trade buyers. Rare chance...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.