PRINT THIS PAGE 3i invests in Hayley, exits Interhyp, looks likely to loose money on Allsports investment30/09/2005. Source: AltAssets. 
 European private equity and venture capital firm 3i has acquired a minority stake in Milton Keynes, UK-headquartered Hayley Conference Centres for £41m. The investment capitalises the business at over £180m, replacing the current institutional shareholder, Legal and General Ventures.
Hayley operates eight residential conference and training centres in the Midlands, the North West and the South East of the UK, and employs 800 staff. The management includes the founder and chairman Alan English, chief executive officer Norman Bellone and sales and operations director Jane Littlewood, who together will be the majority shareholders of the business.
David Whileman, 3i investment director, said, 'Hayley's strength lies with its management team and their strong service ethic. The combination of the team, the quality of the business and the opportunity to grow in the UK and internationally, plays very well to the strengths of 3i's growth capital business.'
3i also announced that it is facilitating Interhyp's successful IPO on the Frankfurt Stock Exchange, with the sale of 40 per cent of its secondary shares in the company. Interhyp is a German online mortgage broker. 3i will retain a 10.8 per cent stake in Interhyp and 3i partner, Christian Siegele will remain on the board. 3i initially invested €7.2m in Interhyp in 2000 for a 17.7 per cent stake.
Not so good news came from Allsports, in which 3i reportedly owns a minority stake. The retail chain has gone into administration.
Copyright © 2005 AltAssets
|
