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.
The business for sale and relocation and operating in the NW England area. This business is an SSAIB Certificated company which installs, services and maintains alarm, CCTV and other associated equipment into domestic and commercial premises.
RELOCATABLE
The business is an international association, SPAA--The Spa Association is 17 years old this month and can be successfully run from anywhere there is an Internet connection. Revenue streams involve the following: classes/certifications, membership, a...
WEB-BASED
The business specialises in the development of fully serviced, freehold commercial business estates targeted at small and medium sized businesses seeking to invest in their own land and purpose-built property. Has created unique concept and branding...
RELOCATABLE
|
21
|
|
Sep
|
Cycle retailer seeks buyer | BUSINESS SALE
Evans Cycles have entered the market and are on the hunt for...
|
20
|
|
Sep
|
Retailer Orla Kiely enters administration | ADMINISTRATION
As a result of the collapse of its parent company, Kiely Row...
|
19
|
|
Sep
|
Viking Trailers enters administration, seeks buyers | ADMINISTRATION
Specialist manufacturing company Viking Trailers have fallen...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources