TGI Fridays owner Electra up for sale

Fri, 25 May 2018 | BUSINESS SALE

Electra, one of the City's most reputable investment firms, has put itself up for sale after 42 years just two months after activist Ed Bramson stepped down from the board.

The private equity group, which is still 29.9 per cent owned by Mr Bramson's investment vehicle Sherborne, has announced the appointment of investment bank Greenhill as part of the wind down process, signalling that long-term plans will be either the full sale of the business or the division of the business into separate parts.

According to Electra, which owners TGI Fridays and Hotter Shoes, the firm is not currently in talks with potential buyers and is open to offers from any interested parties.

They added: "However, the company has received expressions of interest from several parties regarding certain groupings of portfolio assets and also for the entire portfolio."

According to reports, Electra has been struggling since Sherborne built up its stake, with resulting in Mr Bramson taking the lead for almost two years. However, Electra now only manages £317 million of investments and has stopped making fresh investments in light of the potential sale.

Mr Bramson, who took control of the group in 2015, announced that he would be stepping down in March after launching an assault on British banking giant Barclays, having built up more than a five per cent stake in the company.

Although it has been confirmed that he met with the banking group, neither Mr Bramson nor Barclays has publicly commented on his proposals.


Share this article



Latest Businesses for Sale

Specialist Personal Injury Solicitors Firm
North West, UK

Solicitors practice specialising in personal injury matters including accidents at work, industrial disease, clinical negligence, slip & trips, road traffic accidents (RTAs) & accidents abroad. Cases taken on a "no win no fee" basis, guaranteeing cli...

Asking Price: Offers Invited
Turnover: £2,930,000

Independent Brokerage Firm Specialising in Cash Deposit Management
UK Wide

Independent brokerage firm specialising in arranging the placement of cash deposits for a number of the UK's largest asset managers, the company works with a network of leading banks, suited to the criteria of its clients. The company assists clients...

Asking Price: Offers Invited
Turnover: £720,000

Serviced Office Provider
UK Wide

Award winning serviced office company, providing long-term flexible, unbranded office space, alongside short-term lease of virtual offices & meeting rooms. Flexible fit-out appeals to a diverse & established client base ranging from start-ups & SME's...

Asking Price: Offers Invited
Turnover: £7,875,000


View more businesses for sale

News Search

Latest News

 
13
 
Nov
 

Intermet Refractories completes MBO deal | MBO/MBI

Intermet Refractories, a metal casting component manufacture...

 
10
 
Nov
 

BT to sell off its fleet division | DIVISION SALE

BT Group is preparing to sell its fleet management arm encom...

 
08
 
Nov
 

Open Cell to merge with Stratto | MERGER

Global investment firm, Digital Colony has acquired Open Cel...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
02
 
Feb
 

Owner of TGI Fridays UK considers sale | BUSINESS SALE

The owners of the UK division of US-inspired casual dining c...

 
15
 
May
 

Britain's largest caravan park company may soon be up for sale | BUSINESS SALE

Parkdean Resort, the largest caravan park company in the UK,...

 
04
 
Jan
 

Grainger to sell retirement division for £325 million | DIVISION SALE

Property management company Grainger has done the paperwork ...

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