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

National Reprographics & Flexo Plate Manufacturer (Fast Sale)
UK Wide

Opportunity to acquire the Business & Assets of :- A Well Established National Reprographics and Flexo Plate Manufacturer. Expressions of interest are to be made by COB Thursday 17 October 2019. All offers are to be received by Midday Wednesday 23 Oc...

Asking Price: Offers Invited
Turnover: £5,513,440

Electrical Installation & Service Retailer
West Midlands, UK

Service retailer member of Europe's largest buying group. Additional gift shop in the business with additional income streams. Business across 2 units (Retail & Storage, admin & service). Sale and installation and of aerials, satellites and CCTV. Of...

Asking Price: £249,999
Turnover: £530,000

LEASEHOLD


Care Agency
Cumbria, UK Wide

Well established care agency for sale. Situated in a predominantly residential area close to the town centre. Thriving business with ample growth potential. Highly reputed with regular and repeat trade. Offers invited.

Asking Price: £649,950
Turnover: £761,284

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
16
 
Oct
 

Automotive supplier completes MBO | MBO/MBI

An automotive products supplier located in South Yorkshire h...

 
15
 
Oct
 

Tomlinsons Dairies falls into administration | ADMINISTRATION

Wrexham-based dairy firm Tomlinsons Dairies has announced to...

 
14
 
Oct
 

PE firm snaps up independent video game firm | BUSINESS SALE

Private equity firm NorthEdge Capital has successfully acqui...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
06
 
Jul
 

Novus Leisure seeking new investment to boost its success | BUSINESS SALE

Bar operator Novus Leisure is seeking new investment to cont...

 
13
 
May
 

RBS prepares to offload pub freehold portfolio | BUSINESS SALE

The Royal Bank of Scotland is gearing up for a sale of its p...

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