Moulton vehicle buys Walkabout operator: Private equity veteran Jon Moulton has acquired Walkabout operator Intertain in a £20m deal. The deal has been completed through Moulton’s Better Capital vehicle. The acquisition paves the way for Intertain expansion – the company operates 26 Walkabout sites, five Jongleurs comedy clubs and six unbranded bars. Intertain was formed in October 2009 to acquire the prime trading assets previously owned and operated by Regent Inns. Five years on, it has been achieving excellent returns from its investment in the Walkabout brand through a rolling programme of refurbishments. The most recent Walkabouts to benefit – in Derby, Carlisle and Lincoln – have seen trade increase by an average of 52%. In August, the company started a marketing process to attract new investment. Chief executive John Leslie said at the time: “The decision to seek new capital reflects the opportunity for significant growth. Our work done on the evolution of the Walkabout brand over the last 18 months has delivered exceptional returns. We have identified many development opportunities in the existing estate as well as expansion opportunities through new Walkabout sites. We believe this will generate considerable investment interest. I am delighted that the business is now in a position where we can see real value in continuing to invest in the existing estate and the potential for further site acquisitions. Things never stand still for very long at Intertain and the whole team is looking forward to the next stage of our development.” New owner Moulton previously headed Alchemy Partners, which made investments in TCG and Revolution vodka bar operator Inventive prior to his departure to set up Better Capital. Of the Intertain deal, Moulton told The Sunday Telegraph: “The major issue the company had was the lack of investment - this deal de-gears the balance sheet. I’m not going to be making radical changes to the company – making it for teetotallers and serving just hot drinks. As for Jongleurs – maybe I’ll just improve the quality of its jokes.” Intertain has reported Ebitda of £5,264,000 (2012: £4,880,000) in the year to 2 February 2013. Sales were £57,580,000.

ETM Group reports turnover and profit boost: Gastro-pub operator ETM Group, led by Ed and Tom Martin, has reported turnover rose to £18,051,429 in the year to 28 February 2014, up from £16,497,599 the year before. Pre-tax profit was £885,552 compared to £607,966 the year prior. The company sold its Prince Arthur pub after the year-end, and has signed a lease to open another site in central London in March 2015. The company reported its Canary Wharf, One Canada Square site is “growing steadily after a slow start”. Overall gross profit percentage rose from 40.8% to 41.6% in the year.

C&C Group eyes Mitchells & Butlers dream deal: C&C Group is eyeing an approach to Mitchells & Butlers after its preliminary approach to Spirit Pub Company was rebuffed, according to The Sunday Times. The newspaper has reported that the drink producer has told shareholders that a tie-up with M&B would be the ‘dream deal’ although it remains keen to buy Spirit. It is thought that C&C Group has not yet approached M&B about the possibility of a deal. C&C Group is valued at £1bn while M&B has a market value of £1.5bn.