Propel Morning Briefing Mast Head Propel Hospitaliity website Paul's Twitter Link Subscribe Unsubscribe Web Version Forward Email Swifty Banner Morning Briefing Strap Line
Sat 4th Jul 2020 - Exclusive – Tnui Capital to take control of Busaba
Exclusive – Tnui Capital to take control of Busaba: Tnui Capital, the London-based private equity firm, has reached an agreement to acquire Busaba, the Thai chain founded by Alan Yau, Propel has learned. Tnui, which is a turnaround specialist company led by Bryan Green, is believed to have beaten a bid from a rival group led by Leon co-founder and chief executive John Vincent to back 13-strong, London-based Busaba. Propel understands Tnui will provide capital to fund the future plans of the business, which will continue to be led by managing director Terry Harrison, and provide it with the opportunity to come through the current challenges created by covid-19. The deal sees Muzinich, the New York-based fixed-income specialist, which acquired a controlling stake in Busaba last July, leave the business. The US company provided the then 14-strong group with a private debt deal of circa £16m in summer 2016. It then upped its stake in Busaba in 2017, securing a debt-for-equity swap and taking a significant minority stake in the business. Last year’s acquisition of a controlling stake in the company saw Phoenix Equity Partners relinquish control of a business it first backed in 2008, with a £21.3m management buyout of then three-strong brand. Propel revealed in April that Busaba had appointed KPMG to help it assess options, which if new investment hadn’t come forward could have included a restructuring of the business and a possible company voluntary arrangement. Turnaround specialist company RCapital, the former backer of Little Chef, was also believed to have run the rule over Busaba.
Return to Archive Click Here to Return to the Archive Listing
 
Punch Taverns Link
Return to Archive Click Here to Return to the Archive Listing
Propel Premium
 
McCain Banner
 
Zapaygo Banner
 
Matthew Clark Banner
 
Deliverect Banner
 
A2Z Masks Banner
 
Pub Plants Banner
 
Yoello Banner
 
Ei Group Banner
 
OrderPay Banner
 
TipJar Banner
 
Trail Banner
 
Odamo Banner
 
Arla Foods Banner
 
Nestle Waters Banner
 
Yumpingo Banner
 
Camile Banner
 
Pepper Banner
 
The Leisure and Hospitality Collective Banner
 
LunchMate Banner
 
Biff's Banner
 
Zonal Banner
 
Swifty Banner
 
Yudu Banner
 
Orderbee Banner
 
Startle Banner
 
Pago Banner
 
Access Banner
 
Ten Kites Banner
 
Prestige Purchasing Banner
 
IOL Banner
 
COREcruitment Banner
 
Punch Taverns Link Punch Taverns Link
Wi5 Banner
ALMR Web Link Web Version Unsubscribe Subscribe Propel Info website