Merlin Entertainments announces management buyout
Attractions operator, Merlin Entertainments, has announced the completion of a £72.5m secondary management buyout deal.
Backed by Hermes Private Equity, the company has been bought from owners, Apax Partners and JP Morgan Partners.
Merlin, whose portfolio includes the London Dungeons and the Sea Life chain, will now be able focus on its growth strategy, which includes the introduction of a new £9m family brand called Earth Explorer, due to open in Ostende in May.
Chief executive, Nick Varney, said: “Hermes Private Equity is a very suitable partner to build on the company’s success and ensure our continued expansion.
“We are delighted to have been able to complete a deal that secures our growth strategy, and believe this is positive news for everyone involved.” Details: www.merlinentertainments.biz
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