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Sun 19th May 2013 - Breaking News - Intertain eyes expansion following change in ownership
Intertain plans expansion after change of ownership: Walkabout owner Intertain is on the acquisition trail after private equity specialist Barclays Ventures took a stake in the business. The change of ownership will enable Intertain to complete the refurbishment programme of the existing estate, with the business also actively looking for new venues in a number of UK locations. Barclays Ventures already holds some of Intertain’s debt, as does a vehicle controlled by TPG Opportunities Partners and Goldman Sachs, who are also expected to take an equity stake in Intertain. The remaining equity is held by management. Up to £750,000 per site has already been invested in upgrading eleven of the 35 Walkabout venues, generating ROI of over 80%. Up to six more refurbishments are planned this year. Intertain CEO John Leslie said: “The business is now in a position whereby the refurbishment programme can continue at pace and site acquisitions are now back on the agenda for Walkabout. The Walkabout brand has tremendous pedigree, the ability to deliver excellent returns on investment and great potential for growth given that it is not represented in many of the key towns and cities in the UK. This is a very exciting time and we look forward to working closely with our new owners”. Intertain was formed in October 2009 to acquire assets previously owned and operated by Regent Inns.

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